Richard Tice, the deputy leader of Reform UK, has been referred to parliament's standards watchdog concerning an undeclared loan of nearly £80,000. The referral was made by Liberal Democrat frontbench MP Lisa Smart, who formally asked the parliamentary standards commissioner to investigate Tice.
The loan, amounting to £78,100, was paid in December 2024 by George Cottrell, an aide to Nigel Farage, into the account of Tisun Investments Ltd. Tice is a director of this British company, which manages many of his financial investments. The transaction originally raised concerns with bankers.
It is alleged that Tice may have breached the MPs’ code of conduct by not declaring the loan, potentially because the money appears to have been given at a preferential rate and due to Cottrell's tax residency in Montenegro, which could make him an “impermissible donor.”
Tice has responded, stating that the referral concerns a corporate loan to one of his companies, which he believes are not declarable. He added that these loans are related to his property business activities and not politics, and that his shareholdings and directorships are fully declared as required.