Reform UK deputy leader Richard Tice is under investigation by the parliamentary standards watchdog for failing to declare an interest related to a £78,100 loan from George Cottrell to his company. Tice claims the referral was dismissed and concerns corporate loans, not political donations.
The investigation into Richard Tice raises questions about transparency and the declaration of financial interests by politicians, potentially impacting public trust in Reform UK.
Britain's parliamentary standards watchdog is investigating Reform UK's deputy leader, Richard Tice, over a potential failure to declare an interest. The investigation, confirmed by the parliamentary commissioner for standards, was opened on July 28.
Tice was referred to the watchdog by Liberal Democrat MP Lisa Smart, who alleged that Tice failed to declare a £78,100 loan from George Cottrell, an adviser to Nigel Farage, to Tice's investment company, Tisun Investments Ltd. Smart claims the loan was provided at a preferential rate and that Cottrell's tax residency in Montenegro at the time would make him an impermissible donor, constituting a breach of the MP's code of conduct.
Cottrell, who has a past conviction for wire-fraud in the US, reportedly provided security and accommodation for Nigel Farage. The loan transaction occurred in December 2024, shortly before Tice transferred funds towards a Dubai property purchase. Tisun Investments later repaid £80,000 to Cottrell, but the loan was not declared in company or parliamentary records. Tice is understood to have repaid £1,900 more than he borrowed.
In response, Tice stated on X that the referral had been "thrown out" within 24 hours, characterizing it as a "stupid claim" related to corporate loans for his property business, which he asserts are not declarable, rather than MP donations.