Deputy Prime Minister Angela Rayner has admitted she underpaid stamp duty on the purchase of her second home, blaming incorrect legal advice for the mistake.
In a statement released today, the Labour deputy leader said she would pay what is owed and had referred herself to the Independent Adviser on Ministerial Standards.
The admission follows a report in The Daily Telegraph claiming Ms Rayner avoided £40,000 in tax when buying an £800,000 flat in Hove by removing her name from the deeds of her Greater Manchester property.
Ms Rayner explained that her first home was sold to a trust after her divorce to provide stability for her teenage son, who has lifelong disabilities. He is the sole beneficiary of the trust. She said initial advice suggested she had paid the correct rate of tax, but after media reports, further expert counsel advised more was due.
“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,” she told Sky News’ Beth Rigby. “The reason those confidential clauses were in place was to protect my son, who has lifelong conditions, and I don’t want him subjected to that level of scrutiny.”
Asked if she had considered resigning, Ms Rayner said she had discussed the matter with her family and ex-husband, who she described as “incredibly supportive”.
In her statement, she said she “deeply regrets” the error and remains “committed to providing the transparency that public service demands”.