Richard Tice is facing scrutiny after reports claimed he failed to pay nearly £100,000 in corporation tax through a network of companies linked to his business interests.
According to reports, the alleged shortfall relates to several companies connected to Tice’s investment operations, with funds ultimately linked to donations to Reform UK.
It has been reported that four companies associated with Tice did not pay corporation tax on profits between 2020 and 2022.
These firms were said to have been set up to receive dividends from his property investment business before transferring funds to a parent company, which later contributed over £1.1 million to Reform UK.
In response, Tice issued a statement defending his business practices, saying: “A long career with multiple businesses is bound to feature some errors.”
He added: “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 emphasised that tax planning is a standard business practice, stating: “tax efficiency is a basic corporate responsibility and duty to shareholders.”
The allegations have sparked criticism from political opponents, with Anna Turley calling for further explanation.
She said: “Richard Tice’s credibility is in tatters and Nigel Farage needs to urgently explain why he remains Reform’s deputy leader.”
Turley added: “This is a major scandal that’s not going away.”
Tice, however, rejected the claims as politically motivated, accusing critics of attempting to damage his reputation and describing the reports as part of a “smear campaign”.
The controversy comes amid heightened political tensions, with questions now being raised about financial transparency and corporate practices linked to political figures.
Further clarification may be required as scrutiny continues over the reported tax arrangements.