Published • loading... • Updated
Labour Urges Tax Investigation Into Reform's Richard Tice
Labour urges HMRC to probe Quidnet's tax avoidance via REIT-like status, with £580,000 in unpaid corporation tax linked to offshore and dormant company structures.
- On Sunday, the Labour Party requested that His Majesty's Revenue and Customs investigate Reform UK deputy leader Richard Tice following a Sunday Times report alleging he avoided nearly £600,000 in corporation tax through his property company.
- Tice's firm, Quidnet, utilized a real estate investment trust status from 2018 to 2021, which allowed a three-year "grace period" exempting the company from corporation tax while finding investors.
- Calculations indicate the company avoided a £580,000 tax bill on £3.05m in profits, prompting Tax Policy Associates founder Dan Neidle to characterize the arrangement as "highly aggressive tax planning."
- Turley described the reported case as "deeply troubling" and requiring investigation with "utmost urgency," stating in a letter to HMRC that "several important questions remain unanswered" about the firm's compliance.
- Tice defended his business practices, insisting he is a businessman who "knows how to make money" and complied with all relevant laws, though he acknowledged attempting to diversify amid difficult market conditions.
Insights by Ground AI
11 Articles
11 Articles
+2 Reposted by 2 other sources
Richard Tice defends tax record as he questions Labour’s contributions
The Reform UK deputy leader said there was no ‘obligation’ to pay the maximum tax required.
·London, United Kingdom
Read Full ArticleLabour calls for investigation into Richard Tice’s tax affairs
The Labour Party has called for the tax department, HMRC, to investigate Richard Tice’s tax affairs, after an investigation found his company dodged nearly £600,000 in tax. The Times reported that Tice’s property company Quidnet Reit did not pay any tax on multimillion pound profits between 2018 and 2021 after obtaining “an unusual tax status” for his firm. Chair of the Labour Party, Anna Turley, said the Times’ investigation presented a “deeply…
Coverage Details
Total News Sources11
Leaning Left6Leaning Right0Center3Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 33%
Factuality
To view factuality data please Upgrade to Premium








