Nigel Farage urged to clarify whether he saved tax on Essex constituency home

"The Guardian first reported in May that the house in Clacton, which Farage initially said he had bought himself, is in fact wholly owned by Laure Ferrari, his long-term partner. While Farage said the arrangement was because of security reasons, Ferrari purchasing the house would have saved the Reform UK leader an estimated 44,000 in the higher rate of stamp duty to which he would have been liable, given he already owns other properties."

"Farage confirmed to the Mirror that the house was Ferrari's sole UK asset, but dismissed as disgusting the idea that this was an arrangement put in place to save tax. He also denied lending or giving his partner money towards the 885,000 price of the property in Frinton-on-Sea: I haven't lent money to anybody. I didn't give her money. She comes from a very successful French family and she can afford it herself. It's convenient, it works, and she loves it there."

Labour and the Liberal Democrats have called for Nigel Farage to clarify whether he saved tax on a house in his constituency after questions arose about ownership and funding. Laure Ferrari is the sole UK owner of the Clacton/Frinton-on-Sea property, valued at £885,000, which could have reduced stamp duty liability given Farage owns other properties. Farage said the arrangement reflected security reasons and denied lending or giving Ferrari money. A BBC investigation examined Ferrari's family background, found no evidence of substantial wealth, noted her father's haulage business was liquidated in 2020, and recorded modest family assets and rental income. Companies House shows Ferrari directs Baxter Laois Limited, which reported negligible assets.

Read at www.theguardian.com