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

Reform UK Labels Tice’s £91,000 Tax Dispute as ‘Minor Administrative Oversight’

Reform UK has defended its deputy leader, Richard Tice, stating that the tax issue surrounding his property company constitutes a “minor administrative error.” The Sunday Times revealed that Tice’s firm, Quidnet REIT Limited, omitted £91,000 in tax before distributing profits to him and his Jersey-based trust. Despite this, the party insists the shortfall was a technicality, with Tice asserting that HMRC ultimately received the correct tax amount.

Party’s Defense

Zia Yusuf, Reform UK’s home affairs spokesperson, acknowledged the oversight but dismissed it as insignificant. “It’s a non-story,” she told Sky News, arguing that any tax shortfall by the company would be offset by Tice’s personal income tax contributions. “So it looks like HMRC netted it off correctly,” she added, emphasizing the company’s compliance with UK laws.

“We neither confirm nor deny investigations and we cannot comment on identifiable individuals,” stated a HMRC spokesperson.

Labour’s Criticism

Labour has labeled the situation a “major scandal” that challenges Tice’s integrity. A Labour representative said the incident highlights the need for Tice to clarify whether his business adhered to tax regulations. Last month, Labour’s chair, Anna Turley, wrote to HMRC urging an investigation into Tice’s tax affairs, citing reports he avoided nearly £600,000 in corporation tax via his property company.

Tice’s company, Quidnet REIT Limited, focuses on property investments. The Sunday Times highlighted that it failed to apply a 20% levy on dividends before transferring profits to Tice and his trust. At a Westminster press conference, Tice claimed the company fulfilled its UK tax obligations, stating there was “no obligation” to pay the maximum tax allowed. He questioned why others would pay more than required, suggesting such decisions are not mandatory.

“How many friends of yours would voluntarily choose to pay more tax than they are legally obliged to do?” Tice posed to journalists, arguing that moral expectations shouldn’t force businesses to exceed legal requirements.

Tice also shared his perspective on X, stating the Sunday Times’ report implied “overall HMRC received the correct amount of tax due.” He criticized the paper for framing the issue as him paying “too much tax” rather than his company fulfilling its tax responsibilities. This disagreement underscores the political debate over tax practices and accountability.