Reform UK faces questions over £5m gift and other donations

Parliamentary standards officials opened an investigation this week into an undisclosed £5m gift to Nigel Farage. The inquiry began after bankers filed a report with the National Crime Agency on 16 May 2024 raising money-laundering concerns about the transaction.

Farage announced on Tuesday that he would resign his seat and trigger a byelection in Clacton-on-Sea. The announcement followed the expiry of a deadline to respond to questions from The Guardian about the gift.

Timing of the £5m gift Reform UK told news organisations the money arrived in early 2024. Lawyers for donor Christopher Harborne stated the gift was made on 5 April 2024. Financial industry sources told The Guardian that not all of the funds had reached Farage’s account by 16 May 2024, with some transfers occurring after he said he would not stand for parliament on 23 May and before he announced his candidacy on 3 June.

Companies House records show Farage became a person of significant control of the corporate entity that owns Reform UK by 1 May 2024. Farage has previously described the payment as a personal gift that did not require declaration.

£1m donation and £80,000 loan A separate £1m donation reached Britain Means Business in June 2024 from Fiona Cottrell. Half of the sum was later transferred to Reform UK. Bankers raised questions about the origin of the funds, which were routed through an Australian money exchange called Oneify.

Richard Tice received an £80,000 loan from George Cottrell in late 2024. Tice described it as a bridging loan. Parliamentary rules require MPs to declare loans provided at concessionary rates if they relate to political activities.

Additional investigations Police are examining a £37,500 donation received by Robert Jenrick during his previous Conservative leadership campaign. The Metropolitan police confirmed the inquiry on Wednesday after a referral from the Electoral Commission.

Jenrick stated the allegations were false. Reform donor Mohamed Amersi told The Telegraph he would withhold further contributions until the parliamentary investigation concludes.