"It is highly unfortunate, however, that Ms Rayner failed to pay the correct rate of SDLT [stamp duty] on this purchase, particularly given her status and responsibilities as the Secretary of State for Housing, Communities and Local Government and as Deputy Prime Minister. She believed that she relied on the legal advice she had received, but unfortunately did not heed the caution contained within it, which acknowledged that it did not constitute expert tax advice and which suggested that expert advice be sought."
"I believe Ms Rayner has acted with integrity and with a dedicated and exemplary commitment to public service. I consider, however, that her unfortunate failure to settle her SDLT liability at the correct level, coupled with the fact that this was established only following intensive public scrutiny, leads me to advise you that, in relation to this matter, she cannot be considered to have met the "highest possible standards of proper conduct" as envisaged by the Code."
Angela Rayner admitted she did not pay the correct amount of stamp duty on a home purchase and subsequently resigned. Sir Laurie Magnus praised her cooperation but found she failed to settle her SDLT liability at the correct level. Rayner relied on legal advice that cautioned it was not expert tax advice and recommended seeking specialist advice. Sir Laurie noted the responsibility for reporting and settling tax liabilities rests with the taxpayer. He acknowledged Rayner's integrity and public service commitment but concluded the failure and its exposure meant she did not meet the Code's highest standards.
Read at London Business News | Londonlovesbusiness.com
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