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Nigel Farage, leader of Reform UK and MP for Clacton, revisited a controversial chapter from 2013 by acknowledging that setting up a family trust fund in the Isle of Man was a “mistake.” He originally described the Farage Family Educational Trust 1654 as intended for inheritance planning, but claimed he never benefited personally and ultimately lost money as the arrangement proved unnecessary and costly 12
In a fresh twist, today’s reporting reveals that Farage continues to use tax-efficient structures—this time via his own private company, Thorn in the Side Ltd, to manage earnings from GB News and other media ventures. This setup allows him to pay corporation tax (~25%) instead of higher income tax rates, drawing criticism despite being legal. Since August 2024, the company reportedly amassed nearly £400,000 from his media work and held over £1.7 million in cash as of May 2024 3 4
Farage’s Current Company Directorships
Nigel Farage’s current active directorships:
Reform UK Party Limited – Director since 18 February 2025 https://www.companycompass.co.uk/company/16260766
Farage Media Limited – Director since 6 December 2020 https://www.companycompass.co.uk/company/13066592
Reform 2025 Ltd – Director since 29 March 2019 https://www.companycompass.co.uk/company/11694875
Thorn in the Side Limited – Director since 27 May 2011; currently active https://www.companycompass.co.uk/company/07650770
Appointment of Administrators
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Petitions to Wind Up (Companies)
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Appointment of Liquidator
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Petitions to Wind Up (Companies)
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Petitions to Wind Up (Companies)
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Thursday 4th September 2025
https://www.companycompass.co.uk/company/07073189
GVE London Ltd, incorporated on 11 November 2009, has long established itself in the supercar market from its base in Uxbridge. With Dilraj Singh Rai at the helm, the company navigated a competitive luxury automotive industry through an expansive showroom presence and sale-or-return models. In late August 2025, GVE London filed a Notice of Intention to Appoint Administrators (NOI) at the High Court (case number: CR‑2025‑005828), initiating a short legal moratorium to buffer the company from creditor action while exploring rescue or restructuring options.
Gazette Notice
On 4th September an Appointment of Administrators notice was published in The Gazette for GVE London Ltd:
https://www.thegazette.co.uk/notice/4956526
“ In the In the High Court of Justice, Business & Property Courts of England & Wales Insolvency & Companies List (ChD)
Court Number: CR-2025–005828 GVE LONDON LTD (Company Number 07073189)
Trading Name: GVE London
Nature of Business: Sale of new cars and light motor vehicles
Previous Name of Company: Global Vehicle Exports London Ltd
Registered office: Unit 15 Tradecity, Cowley Mill Road, Uxbridge, Middlesex, UB8 2DB
Principal trading address: N/A Date of Appointment: 1 September 2025
Names and Addresses of Administrators: Farheen Qureshi (IP №11392) of Parker Getty Limited, Devonshire House, 582 Honeypot Lane, Stanmore, Middx, HA7 1JS
Further details contact: Farheen Qureshi, Email: info@parkergetty.co.uk, Tel: 020 3475 3900. Alternative contact: E Popat. “
Company website:
https://gvelondon.com/
Youtube
Earlier this year, the company featured in a video from Car Dealer Magazine: “Join us as we step inside GVE London, the luxury supercar dealership trusted by Premier League footballers, global rappers, and millionaire collectors. In this behind-the-scenes episode of Selling Supercars, we tour the Uxbridge showroom packed with icons like the Ferrari Enzo, Bugatti Veyron and Lexus LFA. Sales director George Gehdu shares how he went from law school to Lamborghini sales, while founder David Rai reveals why 80% of their cars are sold on a sale or return basis. In this video, expect gold walls, turntable handovers and straight-talking truths about the challenges of selling hypercars.”