Tice £91,000 tax row is ‘minor administrative error’, party claims

Tice £91,000 Tax Row Labeled ‘Minor Administrative Error’ by Reform UK

Reform UK has defended Richard Tice’s tax situation, labeling it a ‘minor administrative error.’ The party’s claim follows a report by the Sunday Times that Tice’s property company failed to remit £91,000 in taxes before distributing profits to him and his offshore trust. The company, Quidnet REIT Limited, was said to have omitted a mandatory 20% tax levy on its dividends prior to sending funds to Tice and his Jersey-based trust.

“This was a technicality,” said Zia Yusuf, Reform UK’s home affairs spokesperson, who admitted it was “a non story.” She explained that any shortfall in the company’s tax payments would be compensated by Tice through his personal income tax, effectively balancing the overall tax burden.

Tice himself addressed the issue on X, stating that the Sunday Times’s findings showed HMRC received the correct amount of tax. He argued that the paper was “effectively complaining I paid too much tax rather than [my] company pay some tax on my behalf.” The deputy leader emphasized that the company’s actions did not violate the law.

Labour Condemns Tax Dispute as ‘Major Scandal’

A Labour spokesperson criticized the situation as “a major scandal which goes to the heart of Richard Tice’s integrity and credibility.” They demanded that Tice clarify whether his business adhered to tax regulations and fully accounted for its obligations. Last month, Labour’s chair Anna Turley initiated an inquiry by writing to HMRC, citing reports that Tice’s company had “avoided nearly £600,000 in corporation tax.”

Press Conference Claims: UK Company Complied with Laws

At a Westminster press conference, Tice asserted that Quidnet REIT Limited was “a UK company paying UK tax in accordance with UK laws.” He questioned the necessity of paying the maximum possible tax, suggesting that few individuals would “voluntarily choose to pay more tax than they are legally obliged to do.” Tice warned that insisting on higher tax payments could harm the UK’s economic stability.