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Nigel Farage, the leader of Reform UK, is under scrutiny regarding how his partner managed to purchase an £885,000 home following a BBC investigation that raised doubts about his initial explanation. The Member of Parliament for Clacton denied allegations of avoiding over £44,000 in extra stamp duty on the property by asserting that Laure Ferrari, his partner, used her own resources to acquire the home. Farage implied that Ferrari was capable of buying the four-bedroom house without a mortgage owing to her wealthy background in France.
Contrary to Farage’s claims, the BBC’s examination of French property and company records did not uncover evidence supporting the notion that Ferrari’s parents had the financial means to substantially contribute towards the purchase of the home. In addition, Farage revealed that he had sought advice from a tax expert regarding the purchase, despite previously stating that he was not involved in the transaction. If the funds used for the purchase indeed originated from Farage, then his partner’s acquisition of the property in her name to avoid higher stamp duty rates would be permissible from a legal standpoint.
The property in question is a four-bedroom residence in Frinton-on-Sea, Essex, complete with a heated swimming pool, that was bought last November. Allegations surfaced suggesting that Farage orchestrated the purchase to avoid paying additional tax, as a second-home stamp duty surcharge would have been applicable if he had a stake in the property. Farage defended himself by asserting that he did not provide financial assistance to Ferrari for the acquisition and proposed that her family’s prosperity facilitated the purchase. However, discrepancies emerged, casting doubt on the accuracy of his claims regarding Ferrari’s family wealth.
Laure Ferrari’s background entails her father’s former ownership of a haulage business in Strasbourg, France, which was liquidated in 2020 with more liabilities than assets. Despite this, the Ferraris own a flat in a Strasbourg suburb alongside the former business premises rented out for a modest monthly income. Farage’s decision to seek specialized tax guidance regarding the real estate transaction raises suspicions of potential tax avoidance strategies, given his critical remarks towards other politicians’ tax affairs in the past. Farage’s spokesperson maintained that Ferrari was the sole proprietor of the property and that all related taxes were duly paid, although crucial questions remain unanswered regarding the source of the funds used for the purchase
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