UKIP Leader admits "mistake" setting up trust fund

Ukip leader Nigel Farage has admitted he made "a mistake" by setting up a trust fund in an off-shore tax haven.

Mr Farage, who has previously spoken out against those who evade tax in a speech to the European Parliament, admitted that he paid a tax adviser to set up the Farage Family Educational Trust 1654 on the Isle of Man, according to the Daily Mirror. The newspaper said Mr Farage insisted he had not personally benefited from the account, and that he claimed he had ended up out of pocket.

The MEP told the Mirror: "My financial advisers recommended I did it, to have a trust really for inheritance purposes and I took the advice and I set it up. It was a mistake. I was a completely unsuitable person for it. I am not blaming them, it was my fault."

Comments

Jim said…
did he do it twice? :)
3:48 pm
Chris Whiteside said…
No, I had a slight problem with my link to Blogger while posting and the post appeared twice !
6:14 pm
Jim said…
Had gathered that by the missing title. Just thought it would be quite amusing to ask is all :)
10:36 am
Unknown said…
Hey I my friends I tell you something can you give me answer I When you make gifts to a child in trust, you want to do it in such a way that your gifts qualify for the annual gift tax exclusion. This isn't automatic because your kid can't touch the money until she's an adult. Under the gift tax law, this is viewed as a gift of future interest, which doesn't automatically qualify for the annual gift tax exclusion. But the law allows two types of trusts for minors to qualify for this exclusion. Both types get their names from the provision in the Internal Revenue Code that creates them.
Family Trust Deed
6:35 am
Unknown said…
Hey I my friends I tell you something can you give me answer. If you plan on expanding your business internationally, it is a must to choose a top level domain. This means if you plan on operating only in the United Kingdom, a .co.uk and a .com domain are enough. However, if you plan on expanding to operate Europe eventually, it may be prudent to secure a .EU domain as well. It is always advisable to consider your company’s growth thank skimp a few dollars
Superannuation Funds online
12:34 pm
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