![OFFSHORE TRUST OF 'PATRIOT' TICE](https://cdn.magzter.com/1583503328/1723421344/articles/O_xQoHD2v1723437973720/OFFSHORE-TRUST-OF-PATRIOT-TICE.jpg)
REFORM UK deputy leader Richard Tice put millions of pounds worth of shares in his property empire in an offshore trust.
The multi-millionaire businessman admits he set up a family trust in the Channel Islands tax haven of Jersey more than three decades ago.
He told the Mirror he created it during a two-year stint working in Paris in his mid-20s.
He kept it offshore when he returned to Britain in 1991 and only moved the trust from Jersey to the UK "five years ago... give or take" despite living here throughout those 28 years.
Mr Tice, 59, said the trust, called the RJS Tice Family Settlement, was set up to avoid being "double taxed" on his "international investments".
In 2016, when it was still offshore in Jersey, he transferred a million of his shares in his UK property business Quidnet Reit Ltd into the trust. Quidnet owns £32million worth of commercial property in the UK and the trust now owns a 17% stake, which is worth about £3m.
Mr Tice told us the beneficiaries of the trust were his three kids with his ex-wife and insisted they are all UK taxpayers like him. The trust was listed by his company Quidnet as having an address in Jersey as recently as July 2021.
He said this was just a correspondence address and that he had already brought the trust onshore to the UK.
This story is from the August 12, 2024 edition of Daily Mirror UK.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the August 12, 2024 edition of Daily Mirror UK.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
![SHAMEFUL](https://reseuro.magzter.com/100x125/articles/21043/1827146/mYPzb2V7S1725945461179/SHAMEFUL.jpg)
SHAMEFUL
Police called as parents brawl at UNDER 10s football match
![You're 29 today, Jack... it's time you brought your gifts to the England party](https://reseuro.magzter.com/100x125/articles/21043/1827146/eMMcvEco-1725945311302/YOURE-29-TODAY-JACK-ITS-TIME-YOU-BROUGHT-YOUR-GIFTS-TO-THE-ENGLAND-PARTY.jpg)
You're 29 today, Jack... it's time you brought your gifts to the England party
TURNING 29 today, Jack is no longer a lad. At least he should not be.
![STEVE JOBS](https://reseuro.magzter.com/100x125/articles/21043/1827146/Vvd8XGLb21725945151650/STEVE-JOBS.jpg)
STEVE JOBS
After the ups and downs of managing 1,032 games with 12 clubs, Bruce is back at Tangerines because: Retirement wasn't for ME
![HUNGRY LIKE THE WOLF! DURAN 9](https://reseuro.magzter.com/100x125/articles/21043/1827146/XX3PBrldv1725944984253/HUNGRY-LIKE-THE-WOLF-DURAN-9.jpg)
HUNGRY LIKE THE WOLF! DURAN 9
Duran is ravenous for goals and believes he is best striker at Villa
!['COLDPLAY' ENGLAND HIT A BUM NOTE](https://reseuro.magzter.com/100x125/articles/21043/1827146/xBtu6S-l31725944868295/COLDPLAY-ENGLAND-HIT-A-BUM-NOTE.jpg)
'COLDPLAY' ENGLAND HIT A BUM NOTE
Root says: \"We can't be No.1 every week but ex-skippers Cook and Vaughan let rip
![YOUNG MAN'S GAME.SET & MATCH](https://reseuro.magzter.com/100x125/articles/21043/1827146/ImF_sT4rt1725944710330/YOUNG-MANS-GAMESET-MATCH.jpg)
YOUNG MAN'S GAME.SET & MATCH
Legend McEnroe sees a new dawn after Sinner joy
![EYE WONDER](https://reseuro.magzter.com/100x125/articles/21043/1827146/-hRUnXDxI1725944434648/EYE-WONDER.jpg)
EYE WONDER
THE world's first whole eye transplant patient has stunned surgeons with his remarkable recovery.
![I wake up and I've forgotten...then suddenly I remember I have cancer](https://reseuro.magzter.com/100x125/articles/21043/1827146/GSfnYuP8P1725944201700/I-WAKE-UP-AND-IVE-FORGOTTENTHEN-SUDDENLY-I-REMEMBER-I-HAVE-CANCER.jpg)
I wake up and I've forgotten...then suddenly I remember I have cancer
Ex-Hollyoaks actress Ali Bastian speaks out about breast shock
![Starmer facing revolt by 50 MPs in fuel row](https://reseuro.magzter.com/100x125/articles/21043/1827146/dQBL2Ir1u1725944026135/STARMER-FACING-REVOLT-BY-50-MPS-IN-FUEL-ROW.jpg)
Starmer facing revolt by 50 MPs in fuel row
U-turn call ahead of Commons vote
!['Surrounded by dying people and giving comfort to those whose loved ones could not'](https://reseuro.magzter.com/100x125/articles/21043/1827146/5RhTLm69W1725943863618/SURROUNDED-BY-DYING-PEOPLE-AND-GIVING-COMFORT-TO-THOSE-WHOSE-LOVED-ONES-COULD-NOT.jpg)
'Surrounded by dying people and giving comfort to those whose loved ones could not'
Testimony for the Covid Inquiry reveals ordeals of NHS workers