"Angela Rayner used a small, high-street conveyancing firm for the purchase of the 800,000 Hove flat at the centre of a damaging tax row, the Guardian has learned. The deputy prime minister employed Verrico & Associates, a family firm based in Herne Bay, Kent, to complete the transaction, according to legal documents seen by the Guardian. Rayner has said she asked for legal advice before buying the flat"
"She said on Wednesday, however, that she had subsequently taken advice from a senior barrister, which made her realise she had underpaid. The controversy has put Rayner's political career in the balance and she is facing a series of questions about what advice she took before underpaying stamp duty by tens of thousands of pounds. Rayner believed she owed the lower amount of stamp duty because she did not own any other property."
Angela Rayner used Verrico & Associates, a small family conveyancing firm based in Herne Bay, Kent, to complete the purchase of an £800,000 flat in Hove. She asked for legal advice before buying and initially paid the lower rate of stamp duty, about £30,000. She later took advice from a senior barrister, Jonathan Peacock, which made her realise she had underpaid because a family home is held in a trust in her son's name and therefore counts as her property for stamp duty purposes. The Land Registry application to change the deed name was filed by Verrico under a reference including Rayner's name. Verrico lists four directors and two legal secretaries.
Read at www.theguardian.com
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