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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.

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00:00I was lucky enough yesterday morning to appear on the front page of the Sunday Times
00:04and the journalist made all sorts of inferences about me. He then did tweet
00:12a little bit later in the day and I'll just read out his tweet because it's quite important.
00:18From Gabriel Pogrand, the Labour Party Properties Limited is a company that's
00:25owned properties for decades. And it turns out in the last 25 years, Labour Party Properties Limited
00:34has earned over £30 million in rental income. Proper money, £30 million. How much corporation tax,
00:43given that the Sunday Times have been criticising me for not paying corporation tax,
00:46how much corporation tax do we think Labour Party Properties Limited has paid in 25 years?
00:52Any guesses? Zero. A big fat zero. Because their property costs and their administration expenses,
01:04coincidentally, I'm sure it's just a coincidence, have matched or exceeded the rental income.
01:12I mean, talk about kettle, pot. Talk about hypocrisy. Utterly extraordinary. Oh, I nearly forgot.
01:22They haven't filed their accounts for the last year in question in the appropriate time frame. No, no,
01:28they're six months overdue.
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