Reform has been registered as a private company, with Farage running it since 2018 as the majority shareholder, an arrangement that gave him unusual amount of control for a British political party.

Yesterday, Farage and Richard Tice, the deputy party leader, gave up their more than 90% shareholding in Reform UK Party Limited, according to filings with Companies House, the UK corporate register, reviewed by Reuters.

The party will now be controlled by a renamed entity called REFORM 2025 LTD, the filings show, and Reform will eventually be controlled by its more than 200,000 members.

“We are pleased to announce that, as promised, Nigel Farage has handed over ownership of Reform UK to its members,” party chairman Zia Yusuf said in a statement.

He said Reform UK was now a non-profit organisation, with no shareholders.

Earlier this month, Reform overtook Britain’s governing Labour Party to become the country’s most popular political party in a major opinion poll for the first time, reflecting growing unhappiness with Prime Minister Keir Starmer seven months into his premiership.