Rayner at risk of fine over stamp duty, tax experts say

"Deputy Prime Minister Angela Rayner is at risk of a fine from the tax authorities in addition to having to pay an additional 40,000 in underpaid stamp duty, tax experts have said. Rayner, who is also the minister in charge of housing, has admitted she paid less in stamp duty on her 800,000 flat in Hove, East Sussex, than she should have done, claiming she was badly advised."

"HM Revenue and Customs (HMRC) can levy penalties when tax has been underpaid if someone has been "careless" with their tax affairs. Any penalty for Rayner, which is typically 20% or 30% of the underpaid tax, could hinge on whether she took appropriate legal advice. Rayner has said she was misinformed by lawyers, but questions have been raised about whether she sought specialist tax advice."

Angela Rayner acknowledged paying too little stamp duty on an 800,000 Hove flat, declaring it her only property and paying 30,000 instead of 70,000 due for a second home. HM Revenue and Customs can charge penalties for underpaid tax where carelessness is found, typically 20–30% of the underpaid amount. The level of penalty could depend on whether Rayner obtained appropriate specialist legal or tax advice; she says lawyers misinformed her. Independent experts say blaming advisers may not avoid a penalty and that a 30% penalty would add about 12,000 to the sum owed.

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