Richard Tice Tax Row: Fresh scrutiny has emerged around Reform UK deputy leader Richard Tice after reports suggested that companies linked to him may have failed to pay nearly £100,000 in corporation tax.
The issue surfaced after reports indicated that four companies connected to Tice did not pay corporation tax on profits generated between 2020 and 2022. These companies were reportedly created to receive dividend payments from his property investment business and transfer funds to a parent company structure.
Reports said that Tisun Investments Ltd later transferred more than £1.1 million to Reform UK between March 2020 and May 2022. The allegations triggered criticism from opposition politicians and renewed attention on financial transparency among senior political figures.
Richard Tice Tax Row: How the Alleged Tax Issue Came to Light?
Investigations revealed that the companies linked to Tice did not pay corporation tax during the period in question. Analysts reviewing the accounts suggested that approximately £98,000 in corporation tax, along with additional interest charges, could still be due.
Further scrutiny also focused on dividend payments from Quidnet REIT Limited, a property investment firm associated with Tice. Reports indicated that the company may not have applied the required withholding tax on certain dividend payments, resulting in at least £91,000 in excess payments.
Tax experts explained that Real Estate Investment Trusts (REITs) are required to deduct a fixed tax rate from dividends issued to certain shareholders. Failure to do so could lead to additional liabilities or penalties.
Richard Tice Responds to Allegations
Responding publicly, Tice acknowledged that errors can occur in large business operations and stated his willingness to address any issues that arise.
He said, “In a highly successful career spanning 40 years, I have done business in 12 countries across three continents, and been a director of more than 150 companies.
“I have helped build thousands of homes, creating thousands of jobs and generating hundreds of millions of value for shareholders and investors, along with many tens of millions of tax for HMRC.
“I am very proud of this record. Throughout this career, I have taken professional tax advice and have always paid everything that I was advised to pay.
“Here’s the reality: tax efficiency is a basic corporate responsibility and duty to shareholders. A long career with multiple businesses is bound to feature some errors.
“Naturally, I am always happy to put things right, and if numbers need rechecking, of course, I will pay what is owed – be that more or less.”
Tice also maintained that the total amount of tax received by HMRC remained accurate and attributed the issue to complex dividend rules.
Political Reaction Intensifies
Political opponents responded sharply to the developments. Critics argued that the allegations could damage public trust, especially given Tice’s role as a senior leader in Reform UK.
Anna Turley, chair of the Labour Party, strongly criticised the situation.
She said:
“Richard Tice’s credibility is in tatters, and Nigel Farage needs to urgently explain why he remains Reform’s deputy leader.
“This is a major scandal that’s not going away. Tice has called for others to resign over tax errors that involved less money than this.”
Meanwhile, Reform UK officials defended Tice, describing any potential oversight as a minor administrative error rather than deliberate wrongdoing.
Party Leaders Defend Tax Position
Senior party figures suggested that Tice may have paid tax through personal channels rather than corporate structures, which could explain discrepancies in company accounts.
They also stated that authorities had not launched any formal investigation into the matter so far. Supporters argued that the issue remains technical in nature rather than criminal.
Despite this defence, analysts said the case could remain under public scrutiny due to the growing importance of financial transparency in modern politics.
Richard Tice Tax Row: Why the Issue Matters in UK Politics?
The controversy highlights broader concerns around tax compliance among wealthy individuals and corporate leaders. In recent years, public pressure has increased on politicians to maintain clear financial records and ensure accurate tax payments.
Experts believe that even technical errors in tax reporting can lead to political fallout, especially when they involve large sums of money or senior public figures.
As scrutiny continues, the situation surrounding Richard Tice could become a key political issue, particularly if further financial details emerge or regulatory authorities review the accounts in detail.
