Angela Rayner tax fail

[Iwishicouldflyhigh]

But it’s ok because she was just badly advised.
I’ll remember that excuse next time I fill in my tax return.

But still confused about one can have 2 main homes?

But the question of "will the purchase of the property result in owning two or more properties" WILL result in her owning two properties; she is a named trustee on the trust for a minor which owns a property, and that makes HER the owner of the property as minors are unable to own property. That’s why this isn't a question for an accountant, unless they are a specialist in tax and trusts.

Absolutely agree.

This kind of thing is on exactly the same spectrum of which murder is at the extreme end. I make absolutely no apology for it.

The law firm who act for the trust might not be able to separately act for and advise AR. I think that this might be a conflict of interest.

Its entirely appropriate to comment on public abuse and tagging/identification of MPs’ private homes in the context of the Cox and Amess murders.

There was no comparison of the murders with the tax issue, you may want to reread the post.

My sympathy lies with her neighbours - imagine having someone like Angela Rayner living in close proximity with all of the trouble she brings.

I was listening to a discussion about this on the radio yesterday and the consensus seemed to be that the outcome of the investigation will depend on whether she had given the full facts of her situation to the lawyers advising her. Also that she would need to waive client privilege and allow her lawyers to disclose the advice given, and the basis on which they gave that advice, to the Standards Committee investigation.

Obviously the lawyers could be open to a negligence claim if she was incorrectly advised but any advice will be based on what she told them.

The rules around trusts are indeed very complicated but, as such a senior member of the government and one who has criticised others such as Nadhim Zahawi for his handling of his tax affairs, she should have been sure that she was advised by a specialist in this area. Whether she was or not is not clear.

She hasn’t brought anything. That disgusting damage was caused by vandals. Nice bit of victim blaming, though.

This with Bells on.

whilst the stamp duty calculator is quite superficial the return on the SDLT portal is much more in depth and requires the client to sign it. I’d quite like to see that document.

I work in a conveyancing dept in a law firm that deals with trusts and I don’t think Thurs would have slipped passed us unless she gave false or partial information. Which rests definitely on the clients shoulders.

The question isn't explicit about trusteeship encompassing ownership when the purpose of the trust is to benefit a minor. A lay person answering it would answer 'no'. The critical point in this case, in my view, is not about specialist knowledge ('she should know because she's responsible for housing') but about judgement ie recognising that your financial and family affairs are complex, that you are a prominent public figure who attracts attention, and that you therefore need specialist advice.

Well deserved.

It’s never deserved.

An increasingly bitter lone voice.

I think it suits her to lead us to believe it’s complex so to legitimise it was a “mistake” I’m not sure I buy it - if you had any concerns you’d get tax advice and solicitors are happy to recommend that because it’s outside of our professional expertise AND our liability insurance won’t cover us advising on complicated tax issues.

And largely covered as "ooh shock horror”, "nudge nudge wink wink" fodder by the tabloids. There was little suggestion in the press, even the left leaning press, his behaviour was a disqualification for office.

Johnson has 9(+?) children by at least three different women and fidelity wasn’t exactly his watch word during marriages.

Rayner had one child very young, then two further children born within the confines of marriage. That marriage ended. Three children from two relationships is no different to a very high proportion of UK blended families and the large numbers of MPs on all sides with a divorce/relationship break down behind them.

To conflate Rayner and Johnson as equivalent is in this respect is just silly and if Rayner was an MC man from either side of the house then nobody would be dragging such a mundane relationship history through the press

I don’t think she did anything wrong.

Based on what? She’s admitted to owing £40k

She (and Parry, if he is her co-purchaser) is not a lay person she is a HNW PEP and would have been required to have specialist advice and protection in place during all aspects of financial dealings, unless she in some way dismissed them. There are entire departments in most large reputable financial companies who have a regulatory duty to act in very specific ways with PEPs.

How have you come to that conclusion when she has said herself she had made an error which has resulted in her avoiding a rather large tax bill …

I don’t think anyone is suggesting that AR had to leave office because of her personal life. It’s the murky tax/trustee situation which is the problem.

Aren't we saying the same thing - that she should have taken advice at the time of the purchase? As this saga unfolds, the question of her judgement becomes more prominent. I didn't know about the requirements for PEPs, which make it less likely that she was badly advised.

Yes the idea some low level solicitor gave ‘bad advice’ is likely a lie.

It's not I who needs to re-read the post.

I mean I don’t think she intentionally defrauded the tax office. Her situation isn’t a common one. I believe it was a genuine mistake.

I’m not saying she SHOULD have taken advice, I’m saying she WOULD have been given advice and it would have been from specialists ensuring that they gave absolutely watertight advice as they are covered by additional KYC, anti-money laundering (including a requirement for disclosure of source of funds, so would have known fully about the trust) and other PEP requirements laid down by FCA and Prudential Regs.

Theres just absolutely no way she applied online for a mortgage and picked a conveyancing solicitor from the Yellow Pages.