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Angela Rayner has revealed she underpaid stamp duty on her second home, saying it was because of ‘incorrect’ advice.
The deputy Prime Minister has revealed she failed to pay the full stamp duty on her £800,000 seaside flat in Hove.
Rayner said her lawyers advised her that due to her circumstances, she was liable only for the standard rate of stamp duty.
Rayner has been quizzed over her property ownership details since it emerged she is linked to more than one property.
Now the deputy Prime Minister has referred herself to the PM’s ethics adviser, the Guardian reports.
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The unpaid tax could reportedly be as much as £40,000.
Rayner, who is also the Housing Secretary, said he received inaccurate tax advice and had spoken to her family about quitting.
She was reported to have saved £40,000 in stamp duty on the flat because she removed her name from the deeds of a family property in her Ashton-under-Lyne constituency, meaning the Hove property is the only property she owns.
She told Sky’s Electoral Dysfunction podcast today: ‘I’ve been in shock, really, because I thought I’d done everything properly, and I relied on the advice that I received and I’m devastated because I’ve always upheld the rules and always have felt proud to do that.
‘That it is devastating for me and the fact that the reason why those confidential clauses were in place was to protect my son, who, through no fault of his own, he’s vulnerable, he’s got this life-changing, lifelong conditions and I don’t want him or anything to do with his day-to-day life, to be subjected to that level of scrutiny.’
Full statemet from Angela Rayner
The deputy PM issued a full statement to the Guardian following her stamp duty admission: ‘When purchasing the property my understanding, on advice from lawyers, was that my circumstances meant I was liable for the standard rate of stamp duty.
‘However, given the recent allegations in the press I have subsequently sought further advice from a leading tax counsel to review that position and to ensure I am fully compliant with all tax provisions.
‘I have now been advised that although I did not own any other property at the time of the purchase, the application of complex deeming provisions which relate to my son’s trust gives rise to additional stamp duty liabilities.
‘I acknowledge that due to my reliance on advice from lawyers which did not properly take account of these provisions, I did not pay the appropriate stamp duty at the time of the purchase. I am working with expert lawyers and with HMRC to resolve the matter and pay what is due.
‘The arrangements I have set out reflect the reality that family life is rarely straightforward, particularly when dealing with disability, divorce and the complexities of ensuring your children’s long-term security. Every decision I have made has been guided by what I believe to be in my children’s best interests.
‘I deeply regret the error that has been made. I am committed to resolving this matter fully and providing the transparency that public service demands. It is for that reason I have today referred myself to the independent adviser on ministerial standards, and will provide him with my fullest cooperation and access to all the information he requires.’
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