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this is hardly news as we published it on this web site literally years ago – long before the media saw fit to republish the facts we had provided. I note that the media have decided to regurgitate the story but with few of the facts we originally provided!
Nigel Farage admits trying to avoid tax with offshore fund
Farage confessed to the fund (Picture: EPA/Patrick Seeger)
Nigel Farage tried to avoid tax by setting up an offshore trust fund, an investigation has revealed.
The former Ukip leader admitted to the fund after an investigation by the Mirror discovered the scheme on the Isle of Man.
Farage, 49, told the Mirror his ‘financial advisers recommended I did it’.
He added: ‘It was a mistake. I was a completely unsuitable person for it. I am not blaming them it was my fault.
‘It’s a vehicle that you chuck things in through your life that you don’t need and you build up a trust fund for your children or grandchildren.
Farage had spoken out before against offshore funds (Picture: Justin Tallis/AFP/Getty Images)
‘It was called an educational trust and could have been used for grandchildren’s schools fees, things like that.
‘It was a mistake for three reasons. Firstly, I’m not rich enough to need one and I am never going to be.
‘Secondly, frankly, the world has changed. Things that we thought were absolutely fair practice 10 years, 20 years ago, 30 years ago aren’t any more.
‘Thirdly, it was a mistake because it cost me money. I sent a cheque off to set it up.’
He maintained that he never actually saw any financial benefit from the fund.
In a speech to the European Parliament Farage once actually criticised offshore tax funds, even naming the Isle of Man as a location where many are based.
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We welcome comments but reserve the right to moderate & refuse libelous or offensive comments and those we choose to delete when written by unidentifiable individuals hidden in anonymity in a cowardly manner to defame or abuse. No comment has EVER been barred or deleted which is genuine & clearly authored by a named & identifiable individual. You will note many comments made have been commented on and even corrected by the blog owner. We welcome genuine comments.