Reform UK is preparing for an adverse ruling from the parliamentary standards commissioner over leader Nigel Farage's failure to declare a £5m gift from crypto billionaire Christopher Harborne.

Party insiders told The Guardian they expect the initial verdict to find against Farage and are readying an appeal against any negative findings. Multiple Reform figures said the party is preparing a "fightback through the appeals process," according to the report.

The standards investigation centres on Farage's undeclared receipt of the £5m gift from Harborne. The precise details of when the gift was made, the circumstances of the transfer, or what the money was intended for are not specified in the available material.

Farage leads Reform UK, the party that won four seats in the 2024 general election and has positioned itself as a challenger to the Conservative Party and Labour. The undeclared gift allegation touches on parliamentary rules requiring MPs to register financial interests and donations.

The Guardian report does not include a response from Farage or detail the commissioner's specific concerns beyond the non-declaration issue. It also does not state when the commissioner's report is expected to be published.