Reform UK could face hefty tax bill over £5m donation from crypto billionaire

• Reform UK could face a £3m tax bill as a result of Nigel Farage's undeclared £5m donation, according to tax expert Dan Neidle.
• The potential tax liability stems from reports that Farage discussed needing 'a million a year' to cover lost earnings if he stood for parliament, shortly before receiving the sum from crypto billionaire Christopher Harborne.
• Dan Neidle, of Tax Policy Associates Ltd, stated that if the reporting is correct, HMRC could apply 'disguised remuneration' rules, making Reform UK liable for PAYE on the £5m.
• Reform UK has denied The Guardian's report, which detailed the discussions, calling it 'fake and wholly incorrect'.
• Nigel Farage is currently under investigation by the Commons standards watchdog for failing to declare the £5m sum after he became an MP.

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Reform could be hit with £3m tax bill because of Farage’s £5m donation, tax expert claims