UKIP leader Nigel Farage has admitted he made “a mistake” by setting up a trust fund in an offshore 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, the Daily Mirror said.
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.”
