United Kingdom

Head of British Eurosceptic Party Admits Setting Up Trust in Tax Haven

Says he has not benefited personally

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UKIP leader Nigel Farage has admitted he made "a mistake" by setting up a trust fund in an offshore tax haven.

Mr Farage admitted that he paid a tax adviser to set up the Farage Family Educational Trust 1654 on the Isle of Man but insisted that he had not benefited personally from the arrangement.

The MEP, who has spoken out against those who evade tax in the European Parliament, told the Daily 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.