Nigel Farage is facing renewed scrutiny regarding his tax situation after changing his account twice concerning the purchase of his lavish home in his Clacton constituency. Last week, it came to light that Farage’s partner, Laure Ferrari, was the one who acquired the property, contradicting Farage’s earlier statement claiming he bought a house there. As Ferrari’s only asset, she paid standard stamp duty on the £885,000 property.
Farage, who owns a property portfolio worth £3 million, would have incurred an extra 5% in stamp duty if he had made the purchase himself, amounting to approximately £44,000. He later admitted to misspeaking when he initially claimed he had bought the house. He clarified that Ferrari used her own resources for the purchase, emphasizing that he did not provide any financial assistance.
Despite Farage’s assertions, an investigation by the BBC cast doubt on Ferrari’s financial capacity to buy the house outright. Additionally, it was revealed that Farage gave conflicting statements in August, suggesting he was selling his family home in Kent to move into the Clacton property. However, Land Registry records indicate he still owns the Kent residence.
In response to the discrepancies, Farage explained that delays were responsible for the unresolved property transfer issues. Apart from the Clacton property, he also owns three other investment properties acquired post-Brexit. The Labour Party has criticized Farage for being misleading about his constituency home purchase, calling for transparency on whether he contributed financially to the property acquisition.
Farage’s legal representatives have affirmed that there was no tax evasion or avoidance in the house purchase, as per advice from a tax expert. They stated that Ferrari is the sole owner of the property, having purchased it with her own funds. The mounting pressure on Farage following the revelations has led to an online petition demanding the release of his tax returns, citing the importance of transparency in public figures.
Despite earning over £800,000 in addition to his MP salary, Farage has declined to release his tax returns, arguing it is unnecessary. This stance contrasts with other senior politicians who have disclosed their tax information. The petition emphasizes the necessity of public trust in political figures, urging Farage to be forthcoming about his financial dealings by releasing his tax returns.