Labour Calls for Tax Probe on Reform UK's Tice

0:00On March 15, Labor Party leaders have referred Reform UK deputy leader Richard Tyce to his majesty's revenue and customs for review of his tax arrangements. This follows a Sunday Times report, claiming Tyce's property firm avoided nearly 600,000 pounds in corporation tax from 2018 to 2021. The paper highlighted how Tyce's company, Quitnet Right Limited, gained special real estate investment trust status. This allowed it to skip corporation tax on big profits during a grace period and instead pay out dividends, which shareholders handle individually for, tax purposes. Labor Chair Anna Terley called the situation deeply troubling and urged an urgent probe in a letter to the tax authority. She raised questions about whether Tyce and Link firms paid all owe taxes and how the company qualified for that status. Tyce defended his actions, insisting the business followed all UK rules and laws. He pointed to tax avoidance as legal, unlike evasion, which breaks the law, and boasted

1:02of his success in growing shareholder value. Officials at HMRC now face pressure to dig deeper into Quitnet's setup and offshore structures mentioned in the report as the political row heats up. The head of key economic debates.