Tice’s £91,000 Tax Dispute Labeled ‘Minor Administrative Error’ by Reform UK
Reform UK has defended its deputy leader, Richard Tice, stating that the tax controversy involving his property company amounts to a “minor administrative error.” The company, Quidnet REIT Limited, which Tice established and managed, reportedly missed paying £91,000 in tax prior to distributing dividends to him and his offshore Jersey trust, as highlighted by the Sunday Times.
According to the report, the company “did not pay a required 20 per cent levy on [its] dividends … before channeling profits to Tice and his trust.” Tice described the oversight as a “technicality,” asserting that “overall HMRC received the correct amount of tax due.” His party’s home affairs spokesperson, Zia Yusuf, admitted it was “a minor administrative error” but downplayed its significance, calling it a “non story.”
“Any tax that would have not been paid or underpaid by the company paying the dividend… would then have been overpaid by Richard himself in the form of income tax,” Yusuf stated. “So it does look like HMRC netted off in the same way.”
Labour, however, has framed the issue as a “major scandal which goes to the heart of Richard Tice’s integrity and credibility.” A Labour spokesperson emphasized the need for Tice to clarify whether his business adhered to tax laws, noting that the party had requested HMRC to investigate his affairs following claims he avoided nearly £600,000 in corporation tax.
“This is a major scandal which goes to the heart of Richard Tice’s integrity and credibility. Reform cannot ignore it,” the Labour spokesperson said. “Richard Tice urgently needs to explain whether his business followed the law and paid the full tax it owed.”
In a recent press conference in Westminster, Tice argued that Quidnet REIT Limited was “a UK company paying UK tax in accordance with UK laws,” insisting there was “no obligation” to pay the highest possible tax. He challenged journalists with the question: “How many friends of yours would voluntarily choose to pay more tax than they are legally obliged to do?” Tice suggested that demanding maximum tax payments could jeopardize the UK’s economic stability.
Tice also shared his perspective on the Sunday Times’ findings via X, stating the report demonstrated that “overall HMRC received the correct amount of tax due.” He framed the criticism as an accusation that he “paid too much tax rather than [my] company pay some tax on my behalf.”
