The Mirror can disclose how some of the Reform UK leader’s colleagues owning multi-million pound properties might have to fork out for the charge
Mansion tax critic Nigel Farage’s own wealthy Reform UK colleagues face being hit by the new duty, we can reveal.
The party’s leader suggested the tax, announced in Chancellor Rachel Reeves’ budget on homes worth over £2million, would leave widows distressed. But we can disclose how two of his MPs and the party’s treasurer own multi-million pound properties meaning they might be forced to fork out for the charge.
In October, Reform UK deputy leader Richard Tice claimed the mansion tax would “break the whole economy”.
But the millionaire Boston and Skegness MP’s attack came without disclosing a personal interest – his ownership of a £4million property.
The politician is the registered joint owner of the property in Buckinghamshire. The MP claimed to “have no financial interest at all in it” and that it “was transferred to my ex wife as part of a divorce settlement”. He also said he pays the mortgage on the property. Land Registry documentation lists him as co-owner.
Farage, whose party is riding high in the polls, told a post-Budget press conference the duty would not “affect many people”.
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But, he added: “No doubt, there’ll be some widows living in Greater London that will be caused great distress by it.” And, back in 2012, Farage called the mansion tax “nothing more than petty jealousy and based on bad economics”.
Another of his MPs who faces having to pay out under the new tax, due to be introduced in 2028, is Danny Kruger. He co-owns a London house which he purchased for £1.9million in 2011, meaning it is likely to now be worth well in excess of £2million. The East Wiltshire MP, son of Bake Off star Prue Leith, defected to Reform UK in September. The ex-Tory posted a video slamming the Budget – including highlighting how people with property were being taxed.
Meanwhile, Reform UK’s treasurer Nick Candy is also in line to pay the mansion tax. His property portfolio includes a Grade II-listed manor in Oxfordshire which he purchased for £8.5million in 2021. The donor handed Reform £500,000 this year.
Under Chancellor Reeves property tax, owners of homes in England valued at over £2million are set to have to pay an annual charge of at least £2,500. Reeves told the Commons on Wednesday: “I will take further steps to deal with a long-standing source of wealth inequality in our country.
“A band D home in Darlington or Blackpool pays just under £2,400 in council tax, nearly £300 more than a £10 million mansion in Mayfair, and so from 2028, I am introducing the high value council tax surcharge in England, an annual £2,500 charge for properties worth more than £2 million, rising to £7,500 for properties worth more than £5 million.
“This will be collected alongside council tax, levied on owners, and we will consult on options for support or deferral. This new surcharge will raise over £400 million by 2031 and will be charged on less than the top 1% of properties.”
A Labour source said: “Given Nigel Farage’s economic plans are a golden giveaway for foreign billionaires it will come as no surprise he opposes making the tax system fairer… Farage is completely out of touch and is not on the side of working people.”
Tice said: “In fact this property was transferred to my ex wife as part of a divorce settlement in early 2024 and I have no financial interest at all in it, but I am still paying the mortgage as part of the divorce which is why my name is still on Land Registry.
It is a fact that the housing market has ground to a halt above circa £1.5/2 million in many areas so my comments are sadly being borne out. GDP growth is effectively zero over[the] last three months and the OBR has downgraded growth forecasts over the coming 4 years whilst increasing borrowing by over £60 billion.”
Kruger declined to comment. Reform UK and a representative for Candy were contacted for comment.