8 September
David Smith featured in property press and on Talk Radio on the Angela Raynor tax debacle
Property Litigation Partner David Smith is quoted in the property press (the only lawyer featured in each piece), and also appears in the Ian Collins Show on Talk Radio, discussing the debacle around Angela Raynor’s stamp duty.
The conveyancing firm that handled Ms Rayner's £800,000 flat purchase claims it did not provide her with tax advice, preparing the stamp duty return based only on information she supplied. While Ms Rayner insists she received advice from multiple legal experts that her tax payment was correct, the issue is central to an ongoing ethics inquiry.
David emphasises the legal complexity of the situation: “Stamp Duty Land Tax is notoriously complex, particularly when the nuances of trusts and higher rate liabilities are involved,” he says.
He states that if Ms Rayner “disclosed the full circumstances and was told by multiple advisers that no extra duty was due, then the error lies with the advice, not with her intent.”
David adds that while the political optics are challenging, from a legal perspective, her acknowledgement of the error and cooperation with authorities are key.
Read David’s comments:
Listen to David's interview on Talk Radio's Ian Collins show on Thursday 4 September.
Please note that this post has been prepared for the purpose of providing general information in a non-specific situation. Legal advice should be taken in relation to your particular circumstances. It is not intended that this post is relied upon by any party, and no liability is accepted for reliance.