Newscast Angela Rayner: The Deputy Prime Minister Admits Underpaying Tax
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Sep 3, 2025 Economics Editor Faisal Islam joins the discussion to dive into Angela Rayner's admission of underpaying stamp duty on her Hove flat. He explores the intricate web of her family circumstances and the political fallout in parliament. The conversation shifts to Rachel Reeves and the upcoming Autumn Budget, set against a backdrop of economic challenges. Faisal raises questions about tax system implications and public sentiment amidst rising inflation. Expect insights into fiscal strategies and the balancing act of political reporting!
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Rayner’s Property And Trust Arrangement
- Angela Rayner sold her share of an adapted family home to a trust set up for her disabled son after her divorce.
- She used the proceeds to buy a mortgaged flat in Hove and initially paid standard stamp duty based on legal advice.
Stamp Duty Complexity Revealed
- Stamp duty rules treat second homes differently and can trigger much higher bills when ownership is unclear.
- Expert counsel later concluded Rayner should have paid the higher rate because of the trust arrangement.
Rayner’s Public Explanation
- Angela Rayner described the trust setup and the 'nesting' arrangement with her ex-husband to care for their son.
- She said she sought expert counsel after media reports and referred herself to the independent adviser and HMRC to correct the tax.