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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.
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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
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thepoke.com broke the news in on Sunday, March 15, 2026.
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