Rayner resigns after stamp duty incident – Mortgage Strategy

Angela Rayner has resigned from the government after admitting she has admitted to owing invoices in Hove’s second £800,000 home.
She resigned as Housing Secretary, Deputy Prime Minister and Deputy Leader of Labor, a position elected by party members.
Earlier this week, Ashton MPs in Ashton-Lyne mentioned her apartment tax to the prime minister’s standard adviser earlier this week, leading to an opposition call against her quit.
Rayner claims she had been seriously advised at the time of purchase.
Last year, the government’s stamp duty surcharge for second homes and investment properties increased from 3% to 5%, and took effect immediately.
Sir Laurie Magnus, the Prime Minister’s Standard Adviser, said in his report to Keir Starmer: “It is very unfortunate that Ms. Reina failed to pay the correct stamp duty rate in this purchase, especially given her status and responsibility as Secretary of State for housing, community and local government and local government and deputy prime minister.”
“She believes she relies on the legal advice she received, but unfortunately did not hear the caution in it, which should be aware that it does not constitute an expert tax advice and recommends seeking expert advice.”
“The responsibility for any taxpayer to report their tax returns and resolve debts is ultimately up to themselves,” Magnus added.
The Standard Consultant concluded: “So, I must inform you deeply that in this case, I think the code has been violated.”
In his resignation letter to Starmer, Rayner said: “In view of my role as housing secretary and complex family arrangements, I feel very sorry for the decision not to seek other professional tax advice.
“I am fully responsible for this error. I want to take this opportunity to repeat that I have never done anything other than paying the appropriate amount.”
The Prime Minister accepted her resignation in a handwritten reply, adding, “It is very sad that your time as Deputy Prime Minister, Secretary of State and Deputy Leader of Labor has ended in this way”.
Starmer also said Rayner was “right” and could recommend himself to an independent adviser of ministerial standards and “act according to his conclusions.”
It is now understood that the prime minister is the first major reorganization since taking office in July last year.
A few months after purchasing Hove in May, Rayner placed her stake in another Ashton home in a trust fund established in 2020 to manage a son’s payment.




