The Sunday Times reports that Reform UK’s Richard Tice ‘avoided nearly £600,000 in corporation tax’ due to a rare legal loophole and people are choking on the air of hypocrisy
The Sunday Times has done some reporting on the business and tax affairs of Reform UK’s deputy leader, Richard Tice.
The paper reports that Tice’s property company, Quidnet Reit, used a complex corporate structure to avoid paying around £600,000 in corporation tax. It’s a legal structure, involving him listing the company on the Guernsey stock exchange and applying for it to become a real estate investment trust (REIT).
EXCL: Richard Tice avoided £600K in corporation tax after acquiring legal status which experts say is rarely seen for a firm like his
Reform MP then channeled dividends to offshore trust, pension vehicle and dormant entities — many of which didn’t pay tax https://t.co/ZZnjsBoWqf
— Gabriel Pogrund (@Gabriel_Pogrund) March 14, 2026
Tice told the paper that he complied with all relevant rules, adding:
“Voters should be reassured to have a successful businessman who knows how to make money for shareholders running a business, trade and energy department, making money and growth for taxpayers. If the country had had this before maybe we would not be in the current dire economic pickle.”
He then later tweeted:
I must thank the Sunday Times and Dan Neidle for their detailed article confirming that my tax planning was entirely legitimate.
The libellous headline is the work of a desperate Establishment trying to smear me and Reform.
If you want successful people to save our economy and…
— Richard Tice MP 🇬🇧 (@TiceRichard) March 14, 2026
Though the arrangement is legal, many are pointing out that the system seems rigged in favour of the wealthy, as well as Tice’s hypocrisy over his treatment of Labour’s Angela Rayner during her house sale tax controversy.
1.
Richard Tice’s tax avoidance is legal.
So is registration of corporations like Amazon in tax havens so they can avoid paying a penny in the UK.
THE SYSTEM IS RIGGED – the rich get to mug us all off & point at immigrants & Muslims for our problems.
We’re not buying it anymore. pic.twitter.com/T6w0LcdTtD
— Zoe Gardner (@ZoeJardiniere) March 15, 2026
2.
Richard Tice said that Angela Raynor should resign over £40,000 of stamp duty.
Today it is revealed that the same man has avoided £600,000 of corporation tax.
Should he resign? Or is it one rule for posh blokes and another for working class women?
— Harry Eccles (@Heccles94) March 15, 2026
3.
This you, mate? https://t.co/3CeSaNyV18 pic.twitter.com/bDGeoaCvZH
— Jo Grady (@DrJoGrady) March 14, 2026
4.
HYPOCRITE ALERT.
Richard Tice avoided paying £600k in corporation tax.This was the headline from the Daily Mail re Angela Rayner underpaying Stamp Duty by £40k.
I do hope the Daily Mail will do the right thing and call for Richard Tice to resign.#BBCBreakfast #BBCLauraK pic.twitter.com/lNXsXhews1— Alethea Bernard (@Tush27J) March 15, 2026
5.
MAN OF THE PEOPLE!!!
Do you see it now?! https://t.co/sPNQ5vaiYC
— Marina Purkiss (@MarinaPurkiss) March 15, 2026
6.
Richard Tice:
– engaged in highly aggressive tax avoidance to avoid nearly £600,000 of tax
– did so at a time when the taxpayer was already paying his salary as an MEP
Nothing patriotic about this party of grifters https://t.co/HRRbWVSGa5— Torsten Bell (@TorstenBell) March 15, 2026
7.
Richard Tice loves Britain. Just not quite enough to pay his fair share towards all the public services he benefits from. pic.twitter.com/qzJPt3Ry9G
— Parody Nigel Farage (@Parody_PM) March 15, 2026
8.
What a patriot! https://t.co/4jhvVzX6Dj
— Michael Rosen 💙💙🎓🎓 NICE 爷爷 (@MichaelRosenYes) March 14, 2026
9.
Legal or not – if there's one thing Brits detest is a tax avoiding wanker not paying their FAIR share.
On top of the fact this lot want to put "Britain First" with increased defence spending.
YET –
We know his position on the EU and the defence of Britain will be largely down… pic.twitter.com/BoVLnzPJyT— Narinder Kaur (@narindertweets) March 15, 2026
10.
A Sunday investigation reports that Richard Tice’s company obtained REIT (Real Estate Investment Trust) status.
That allowed the company to avoid corporation tax on rental profits as long as dividends were paid out.
Legal? Yes.
But it shows how wealth can structure itself to… pic.twitter.com/W3V2ozGMW0
— Liz Webster (@LizWebsterSBF) March 15, 2026
11.
In Reform-run councils across the country, Council Tax is rising.
Meanwhile their Deputy Leader, Richard Tice, is exploiting tax loopholes to reduce his own bill.
Taxpayers rightly expect better. https://t.co/MKbe79F6KI
— Kevin Hollinrake MP (@kevinhollinrake) March 14, 2026
Source: Twitter/X/Gabriel_Pogrund