The real lesson here isn’t about erring politicians, though: it’s about the importance of getting specialist tax advice. And let’s clear this up right away: your solicitor? They’re not tax advisers.
They might know some of the answers, but nine times out of ten, they’ll tell you to speak to an accountant. Why? Because the rules around stamp duty are messy, nuanced and full of little quirks that can either save you thousands or cost you thousands.
We’ve seen it first-hand. Clients have accidentally overpaid stamp duty simply because they didn’t know the rules. For example, in some cases if a property is genuinely derelict - no working kitchen, bathroom or utilities - HMRC may class it as non-residential, which can mean you pay little or even no stamp duty.
But it’s not automatic. And you need the right evidence (and advice) to make that claim stick.
Or here’s another one: if you buy a second home, pay the higher rate, but then sell your main home within three years, you can claim that extra back. Again: most people have no idea these reliefs exist. And why should you? You’re busy living your life, not wading through the small print of HMRC manuals at bedtime.
Angela Rayner’s mess is a headline because of who she is. But the principle applies to everyone. Take advice early, save yourself the embarrassment - and maybe a resignation speech.
