Labour MPs call for end to loophole that trimmed billionaire’s tax bill by £18mn

Labour MPs are urging the closure of a tax loophole that reduced billionaire Suneil Setiya's stamp duty bill by £18 million. Setiya, who owns Quadrature Capital, managed to lower his tax liability by purchasing five flats along with his London mansion under a single transaction. This situation highlights broader concerns about tax avoidance strategies employed by the wealthy, sparking debate on equitable taxation and the fairness of the current system. The call for reform underscores the need for more stringent tax policies to ensure everyone contributes their fair share.