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.
Richard Tice has defended his tax arrangements, insisting people always paying the maximum amount on moral grounds would “ruin” the UK economy.
The Labour Party has asked His Majesty’s Revenue and Customs to investigate the tax affairs of Reform UK deputy leader after The Sunday Times reported he had “avoided nearly £600,000 in corporation tax” through his property company.
But Mr Tice accused the Labour Party of failing to pay tax on the revenue of its own property company, and said he had complied with all relevant rules.
Mr Tice’s firm Quidnet Reit Ltd was “a UK company paying UK tax in accordance with UK laws”, he said.
During a press conference in Westminster on Monday, the Boston and Skegness MP said there was no “obligation” to pay the maximum tax required and suggested few people would likely take such a decision.
When asked by the Press Association to clarify if there was a difference between being legally and morally above board on tax, Mr Tice said: “The point is there is no obligation.
“How many friends of yours would voluntarily choose to pay more tax than they are legally obliged to do?
“The idea that morally, we have got to pay the maximum tax we possibly can – therein lies the road to ruin for the UK as an economy.”
Mr Tice said voters appreciated “successful people with a track record negotiating hard on behalf of taxpayers”.
When pressed on whether he would encourage everyone in the UK to pay as little tax as possible, he said: “Yes, within the legal limit. That is what you should do.
“Don’t morally or voluntarily give more tax to incompetent, wasteful hard-left, socialist governments to waste on your behalf.”
Mr Tice said Labour Party Properties Limited earnt more than £30 million in rental income in the last 25 years and questioned its position on tax.
He said: “How much corporation tax do we think Labour Party Properties Limited has paid in 25 years? Any guesses? Zero. A big, fat zero.
“Because their property costs and their administration expenses coincidentally – I’m sure it was just a coincidence – have matched, or exceeded the rental income.”
Responding to Mr Tice’s press conference, Anna Turley MP, chairwoman of the Labour Party, said: “Richard Tice is taking the public for fools. He needs to come clean with the British people as to why he’s gone to such extreme lengths to avoid paying £600,000 in tax.
“Tice claimed a particular status for his company for two years and 11 months so that he wouldn’t have to pay corporation tax. The idea that this is the same as having an ISA or making pension contributions is frankly absurd and Tice knows it.
“Reform pretend to be on the side of working people, but Tice knows that the extremes he has gone to in order to pay less tax are anything but normal.
“While Tice blusters and makes excuses about his own tax affairs, his party is busy hiking council tax and cutting services despite promising to cut council tax and waste. They can’t be trusted and they are not on your side.”
It is understood the accounts for Labour Party Properties Ltd are independently verified by auditors.
A Labour Party spokesperson said: “Richard Tice is brazenly attempting to deflect from his own tax affairs by slinging mud and hoping something will stick.
“He needs to explain to the British people why he has gone to such extreme lengths to avoid paying almost three quarters of a million pounds in tax.”
