Angela Rayner Admits Underpaying Stamp Duty on Hove Flat, Commits to Rectification
UK Deputy Leader Angela Rayner admitted underpaying £40,000 in stamp duty on her £800,000 Hove flat. She committed to rectifying the financial discrepancy with HMRC.
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Overview
- Angela Rayner, the UK's deputy leader, admitted to underpaying stamp duty on her £800,000 flat located in Hove, acknowledging a significant financial discrepancy.
- She reportedly saved £40,000 by applying the standard stamp duty rate instead of the higher rate applicable to second homes, which she now believes was incorrect.
- The issue arose from her ownership of the Hove flat alongside an interest in a family home, questioning her primary residence status for tax purposes.
- Rayner expressed regret and committed to rectifying the underpayment, actively engaging with HM Revenue and Customs to determine the precise amount owed.
- This admission and commitment to rectify follows her resignation as UK Deputy Prime Minister and Housing Secretary amidst an inquiry into her property tax payments.
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Analysis
Center-leaning sources cover Angela Rayner's resignation with a focus on factual reporting and balanced presentation. They detail the tax issue and ethics adviser's findings, incorporating various perspectives from Rayner, Sir Keir Starmer, and political opponents. The coverage avoids loaded language, instead prioritizing a comprehensive overview of the event and its immediate political ramifications.
"Rayner acknowledged she had not paid enough tax when buying her East Sussex flat and said the "mistake" came about because she believed it was the only property she owned."
BBC News"I deeply regret my decision to not seek additional specialist tax advice given both my position as Housing Secretary and my complex family arrangements."
BBC News"Rayner, who admitted on Wednesday that she did not pay enough tax on her purchase of an apartment in Hove, on England’s south coast, earlier this summer, said the report found that she acted in good faith but that she should have sought more specific tax advice."
ABC News"Rayner, who admitted on Wednesday that she did not pay enough tax on her purchase of an apartment in Hove, on England’s south coast, earlier this summer, said the report found that she acted in good faith, but that, crucially, she should have sought more specific tax advice."
Associated Press"Rayner’s departure is doubly significant because she also quit from the role of deputy party leader, which is chosen by the party members, rather than Starmer himself."
NBC News"Angela Rayner has admitted she should have paid more tax when she bought her £800,000 flat in Hove, after weeks of Tory criticism."
BBC News"Rayner said she “deeply regrets the error” and is “committed to resolving this matter fully and providing the transparency that public service demands.”"
Associated PressArticles (13)
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FAQ
Angela Rayner underpaid £40,000 in stamp duty by applying the standard rate instead of the higher rate for second homes, as she treated the Hove flat as her primary residence despite still owning a share in her family home, which led to the discrepancy.
She admitted the underpayment, expressed regret, committed to rectifying the payment with HM Revenue and Customs, referred herself to the Prime Minister's independent adviser on ministerial standards, and engaged actively to determine the precise amount owed.
Rayner owned an £800,000 flat in Hove and still had ownership interest in a family home in Ashton-under-Lyne. She had sold a 25% share of the family home to a trust for her disabled son but remained a trustee, which complicated the determination of her primary residence for tax purposes.
Angela Rayner resigned from her roles as UK Deputy Prime Minister and Housing Secretary amid inquiries into her property tax payments and the ensuing controversy.
Angela Rayner used the lump sum received from selling her 25% share in the Ashton-under-Lyne family home to a trust, combined with a mortgage, to fund the deposit and purchase of the £800,000 flat in Hove.
History
- 14d5 articles