Businessman Behind £75,000 Tory Donation Revealed Amid Tax Haven Scrutiny

Entrepreneur discloses his role in £75,000 contribution to Robert Jenrick, yet issues about tax haven linger

Conservative leadership hopeful Robert Jenrick confirmed that the donation complied with regulations requiring companies to be established and operational within the UK, though he had not revealed the donor's identity.

Political journalist @alixculbertson

Monday, September 30, 2024, 3:

A business executive disclosed that he is the individual who contributed £75,000 to Robert Jenrick through a company that has received loans from a firm registered in a tax haven.

Phillip Ullmann, identifying as a social business entrepreneur, stated that he made a contribution to the Conservative leadership contender via Spott Fitness, which he mentioned belongs to his family’s collection of businesses.

Over the weekend, inquiries surfaced regarding the source of the donation after financial statements revealed that the fitness coaching app company employs no one, has yet to generate a profit, and is burdened with over £300,000 in debt.

In January, the company documented a loan obtained from Centrovalli, a firm incorporated in the British Virgin Islands, initially disclosed by Tortoise Media.

Stay updated with real-time political

Under British legislation, only companies that are registered and operate within the UK are permitted to contribute financially to political parties or politicians.

Mr. Ullmann disclosed that he was responsible for the contribution made by Spott Fitness, though he did not clarify why he chose to donate through the company instead of personally, as he has with other political figures.

Further Discussion on Robert Jenrick

The Conservative Quartet: Who Among Them Could Be Prime Minister by 2029?

Robert Jenrick intensifies his claim that the SAS prefers killing over capturing terrorists because of the ECHR.

Robert Jenrick stands by £75,000 donation following critique of Labour over perks controversy

Subject Matter:

The Electoral Commission is reviewing a complaint after the Labour Party declared its donations, with the election oversight body noting that it is "carefully considering" the matter.

On Sunday, Mr. Jenrick stood by the Spott Fitness donation, stating he believed it to be "completely lawful and appropriate." He declined to confirm that the donation came from Mr. Ullmann, mentioning only that he has "clearly met with individuals associated with the firm" and that the details would be recorded "at Companies House as usual."

According to the official records at Companies House, Mr. Ullmann, who disposed of his family's staffing firm Cordant Group in 2020, is not listed as a director of the company. Instead, Mark Dembovsky is recorded as the only director. Mr. Dembovsky also holds a directorial position at Covenant Advisory, the consultancy firm established by Mr. Ullmann.

For an optimal video viewing experience, it is recommended to use the Chrome browser

Mr. Ullmann expressed his worries about the serious issues confronting both the UK and the global community, stating he has realized the necessity for significant political transformation, which he believes Mr. Jenrick is capable of accomplishing.

The businessman expressed his support for Robert Jenrick, stating, "I am drawn to his substantial approaches to major issues, including migration."

"I don't share his views on every matter, but generally, our perspectives are similar.

"I decided to donate the funds from Spott Fitness, a business that belongs to our family's collection of enterprises.

"This company is outstanding, employing technology to enhance individual health, and is poised for significant success."

Ullmann: Transparency in Donations Crucial

"However, it's important to me that there's no implication whatsoever that I'm concealing anything, and I recognize the significance of being transparent about donors."

I'm pleased to affirm my ties with Spott. I hold deep affection for my homeland, having been born and brought up in the UK, where I have consistently paid taxes and resided.

"I plan to keep sharing my proposals for transforming the global landscape and our economic structures, and I'm always eager to discuss these concepts with others in this field."

For an optimal video viewing experience, it is recommended to use the Chrome browser

Mr. Ullmann, the son of German-Jewish immigrants who escaped the Nazis to settle in the UK, mentioned that he has made donations to Labour's Lord Maurice Glasman, as well as Conservative MPs Sir John Hayes and Danny Kruger, the New Conservatives group, and the New Social Covenant Unit.

Learn more: Jenrick addresses £75k donation amid scrutiny, following critique of Labour's acceptance of gifts. Badenoch claims her statements on maternity pay were distorted. Rosie Duffield's letter harshly criticizes the Prime Minister.

The registry for political contributions indicates that before the upcoming general election, he contributed £20,000 to Sir John, provided Mr. Kruger—who leads the New Conservatives and New Social Covent Unit—with FA Cup semi-final tickets valued at £660, and donated £50,000 directly to the New Conservatives organization.

Steve Goodrich, who leads research and investigations at Transparency International UK, expressed concerns that when politicians receive funding through offshore loans, it casts significant doubt on the origins of the funds.

He further stated, "The intention behind electoral law was to restrict political donations to enterprises with a significant presence in the UK. However, instances such as this demonstrate that it actually allows for anonymous financial contributions from any global location to enter our political system."

The additional candidates vying for the Conservative leadership include Kemi Badenoch, Tom Tugendhat, and James Cleverly.

Participants are engaging in multiple hustings at the Conservative Party conference in Birmingham this week. MPs will narrow the field to two candidates, after which party members will vote to select a leader from them. The new leader will be revealed on November 2.

Associated Subjects

Footer for Sky News

Information About Sky News

Services Provided by Sky News

Channels on Sky

Additional Sites Related to Sky