Labour chair Anna Turley said the Reform chief Nigel Farage should urgently explain why multi-millionaire deputy leader Richard Tice remains his second-in-command
Reform chief Nigel Farage and his deputy, Richard Tice(Image: PA)
Reform deputy Richard Tice’s “credibility is in tatters” amid allegations his companies failed to pay almost £100,000 in corporation tax, Labour has said.
Party chair Anna Turley said Reform chief Nigel Farage should urgently explain why multi-millionaire Mr Tice remains his second-in-command.
She said: “Richard Tice’s credibility is in tatters and Nigel Farage needs to urgently explain why he remains Reform’s Deputy Leader.” Ms Turley went on: “This is a major scandal that’s not going away. Tice has called for others to resign over tax errors that involved less money than this.”
On Saturday evening Mr Tice – who is also business spokesman for the right-wing party – said he is “always happy to put things right” and will pay what is owed “if numbers need rechecking”.
Mr Tice ran four shell companies which did not pay any tax on profits between 2020 and 2022, The Sunday Times claimed. The newspaper said that the companies were set up purely to receive dividends from Mr Tice’s property investment firm and pass the money to their parent company.
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Between March 2020 and May 2022, Tisun Investments Ltd, then transferred £1,113,000 to Reform UK, it was claimed.
On Sunday Tory turncoat Robert Jenrick attempted to defend the Reform deputy. It came as he was told on the BBC’s Sunday with Laura Kuenssberg that when ex-Deputy PM Angela Rayner failed to pay £40,000 in stamp duty, Mr Tice called for her to resign.
Asked whether Mr Tice should go, newbie Reform MP Mr Jenrick replied: “Well, Richard is a very successful businessman. He’s had a 40-year business career, he’s created thousands of jobs, he’s paid millions of pounds in tax.”
He said: “Richard has taken advice, he believes he has paid the tax he should have paid. In fact, he thinks he may have overpaid tax because he paid it through his personal taxation rather than the company.
“If it transpires he’s underpaid tax of course he’ll settle it, but that is not his position. He thinks he’s paid the right tax and that’s absolutely right.”
The Liberal Democrats have also called on HMRC to investigate the claims without delay.
But Mr Jenrick said: “Well, that’s for HMRC and as I understand it, they are not investigating. So, there is no story.”
In a statement on X, Mr Tice said: “In a highly successful career spanning 40 years, I have done business in 12 countries across three continents, and been a director of more than 150 companies.”
“I have helped build thousands of homes, creating thousands of jobs and generating hundreds of millions of value for shareholders and investors along with many tens of millions of tax for HMRC. I am very proud of this record. Throughout this career I have taken professional tax advice and have always paid everything that I was advised to pay.
“Here’s the reality: tax efficiency is a basic corporate responsibility and duty to shareholders. A long career with multiple businesses is bound to feature some errors. 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. It is worth noting that last time my political enemies did this to me, during the Brexit referendum, HMRC concluded that I had significantly overpaid.”
He added: He added: “The relentless effort to tarnish my good name is the kind of behaviour that deters other successful business people from going into politics. The consequences are very real – as we can all see with the current Labour Cabinet, which is entirely devoid of business experience. The result? A flatlining economy and dire public services. All in a nation facing humiliation on the world stage.
“After several weeks of this treatment, I won’t be indulging the Sunday Times any further. I am working flat out for my constituents and campaigning for the local elections. If my primary interest were making money, I wouldn’t be giving everything I’ve got to trying to save our country.”
