Reform UK Deputy Leader's Company Faces £91,000 Tax Payment Dispute

A property company owned by Reform UK deputy leader Richard Tice failed to pay £91,000 in tax on dividends, the Sunday Times reported. The company, Quidnet REIT Limited, invests in property. Reform UK stated that the matter was a minor administrative error.

Tice described the failure as a technicality and said that HMRC received the correct amount of tax due overall. He noted that any tax not paid by the company on dividends was overpaid by him through income tax. Tice added that the reporting effectively complained that he paid too much tax rather than the company paying some on his behalf.

Party and Political Responses Labour described the situation as a major scandal affecting Tice's integrity and credibility.

A Labour spokesperson said Reform UK cannot ignore the issue and that Tice needs to explain whether his business followed the law and paid the full tax owed. Last month, Labour asked HMRC to investigate Tice's tax affairs. At a press conference in Westminster, Tice said Quidnet REIT Ltd is a UK company paying UK tax in accordance with UK laws.

He stated there was no obligation to pay the maximum tax required. Tice questioned how many people would voluntarily pay more tax than legally obliged.

HMRC Position A HM Revenue and Customs spokesperson said the agency neither confirms nor denies investigations and cannot comment on identifiable individuals.

The Sunday Times reported that Quidnet REIT Limited did not pay a required 20 percent levy on its dividends before channeling profits to Tice and his trust registered in Jersey.

“How many friends of yours would voluntarily choose to pay more tax than they are legally obliged to do?" — Richard Tice, at Westminster press conference (BBC) > "This is a major scandal which goes to the heart of Richard Tice's integrity and credibility.”