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Reform dragged into tax row by Richard Tice’s unpaid £100,000
Accounts signed by Tice said the payments were dividends, not taxable property income, leaving HMRC short by about £98,000.
- On Saturday, Reform deputy leader Richard Tice allegedly avoided paying £98,362 in corporation tax between 2020 and 2022, according to reports revealing he misclassified property income distributions as exempt dividends.
- Tisun entities, formed in July 2018, funneled profits to parent Tisun Investments Ltd, where Tice used CCH software to incorrectly report property income distributions as "dividend income," reducing his tax liability to zero.
- Tax specialists argue Tice should have paid the 19 per cent corporation tax rate on £517,694 in distributions. Adam Mohamed of the Financial Reporting Council confirmed the software generated a tag reducing the tax charge.
- Tice stated on Saturday he is "happy to put things right" if numbers need rechecking; experts warn his companies face potential HMRC investigation demanding unpaid tax, interest, and penalties.
- Developments pose questions for Nigel Farage, who relied on Tice to bankroll Reform during the transition from the Brexit Party between 2019 and 2024, exposing the party to reputational risk.
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12 Articles
12 Articles
Coverage Details
Total News Sources12
Leaning Left3Leaning Right0Center5Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
L 38%
C 62%
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