Labour's Deputy Leader, Angela Rayner, finds herself at the centre of a fresh political storm as new inquiries are launched into her historical property dealings. The focus has sharpened on the sale of a flat in Hove and whether she correctly declared her tax obligations.
The controversy stems from the period before she became an MP, revolving around her declared main residence. Ms Rayner has consistently stated that her former council house in Vicarage Road, Stockport, was her 'principal property'. This declaration is crucial as it can exempt a homeowner from paying Capital Gains Tax (CGT) on its sale.
The Hove Flat Question
However, scrutiny has now turned to another property: a flat in Hove, East Sussex, which she sold in January 2015. Property records indicate she bought the flat for £127,500 in January 2010 and sold it five years later for a profit. The key question is whether this was correctly declared for tax purposes.
Tax experts suggest that if the Vicarage Road property was indeed her main home for the entire period, she should not have been liable for CGT on its sale. Conversely, if the Hove flat was not her primary residence, she may have been required to pay CGT on the profit from its sale.
Demands for Transparency
Political opponents are demanding full transparency, calling for the publication of tax advice she reportedly received. A Conservative Party spokesman stated: "The public deserves to know the facts. Angela Rayner must end the speculation by publishing the legal advice she is so fond of citing."
In response, a spokesperson for Ms Rayner reiterated that she "received expert advice from a tax accountant that she was not liable for Capital Gains Tax because of the main residence relief." They emphasised that she would willingly pay any tax deemed owed should that advice prove incorrect.
This situation presents a significant challenge for the Labour leadership, potentially undermining their messaging on tax compliance and fairness just months before a general election.
