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 its deputy leader Richard Tice, stating that the tax dispute involving his property firm is a “minor administrative error.” The controversy centers on Quidnet REIT Limited, the company Tice founded, which allegedly missed paying £91,000 in taxes before distributing dividends to him and his offshore trust, as revealed by the Sunday Times.

Details of the Tax Dispute

According to the Sunday Times, Tice’s company failed to remit the required 20 per cent levy on dividends to him and his Jersey-based trust. This omission, the report claims, allowed profits to flow to Tice without the company fulfilling its tax obligations first. However, Tice has described the issue as a “technicality,” arguing that HMRC ultimately collected the correct amount of tax due.

“We netted off in the same way,” said Zia Yusuf, Reform UK’s home affairs spokesperson, who acknowledged the oversight but dismissed it as “a non story.”

Labour’s Criticism

Labour has condemned the matter as a “major scandal” that undermines Tice’s “integrity and credibility.” The party’s spokesperson urged Tice to clarify whether his business adhered to tax laws, emphasizing the significance of the £91,000 shortfall. Last month, Labour’s chair Anna Turley initiated an inquiry with HMRC, citing reports that Tice’s property company had “avoided nearly £600,000 in corporation tax.”

HMRC’s Response

A HMRC representative declined to confirm or deny ongoing investigations, stating the authority could not comment on specific individuals. This neutrality leaves room for debate over the validity of Tice’s claim that the tax discrepancy was a “netting off” process rather than a legal breach.

Press Conference Remarks

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 tax, suggesting few would choose to overpay voluntarily. “How many of your friends would pay more tax than required?” he asked journalists, implying that the issue reflects a broader debate on tax fairness.

Tice’s X post highlighted that the Sunday Times’s reporting essentially criticized him for “paying too much tax” instead of addressing the company’s role in the dispute. This framing has sparked contrasting views, with Labour framing it as a credibility crisis for Reform UK.