9:36 AM, 31st July 2024, About 2 years ago 11
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We hope Property118 has been a valuable resource in your property investment journey. We aim to provide the latest insights, news, and a platform to ask questions and share best practices with your peers to help you navigate the ever-changing property market.
Historically, the running costs of Property118 have been funded by income generated from consultancy. However, that income stream is currently paused and will likely remain so until Property118 is vindicated of unjust attacks on the credibility of guidance to landlords who want to viably transition into an optimal ownership structure.
The Property118 website serves over 3 million page impressions a month, so we feel like we must be doing something right.
It costs around £32,000 a month to run. This includes salaries for our journalists/editors, server costs to host and keep the website secure, and sending email Newsletters and comment notifications.
Historically, the above has all been funded by income generated from consultancy. However, that income stream has been decimated and will likely remain so until Property118 is vindicated of unjust attacks on the credibility of guidance to landlords who want to viably transition into an optimal ownership structure.
This is putting the existence of the Property118 website and Newsletters in jeopardy.
If a core of just 3,600 Property118 regulars were to donate just £10 a month to help fund the running costs of Property118 it would secure the future of the services we currently provide, as explained above.
Does Property118 provide at least £10 a month of value for you?
If the answer is yes, please complete the form below.
Every day, landlords who want to influence policy and share real-world experience add their voice here. Your perspective helps keep the debate balanced.
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Harlequin
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Member Since May 2014 - Comments: 271 - Articles: 2
10:41 AM, 31st July 2024, About 2 years ago
Excellent idea, for many this is the go to page for quick info and advice – we all benefit from others experiences and knowledge based on real time experience on here, pick up knowledge and share – let’s show support and sign up NOW.
For those involved in the IR issue – if you haven’t donated – please do. Strength in numbers.
Ryan Stevens
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Member Since January 2024 - Comments: 291
13:01 PM, 31st July 2024, About 2 years ago
It’s a commercial website (which has done very well on a commercial basis, until recently) not a charity. Other commercial websites have to run without donations, so really Property 118 has to do so too.
There is also no guarantee that Property 118 will be vindicated. You and we can hope that it will, but it all depends on how legislation is interpreted, whether HMRC will allow the Extra-statutory Concession (which is just a concession, not a right, and can be refused if the ESC is used in connection with tax planning), etc.
Oliver D
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Member Since September 2014 - Comments: 5
14:37 PM, 31st July 2024, About 2 years ago
Reply to the comment left by Ryan Stevens at 31/07/2024 – 13:01
Your comments show a lack of understanding and appreciation for what is going on here. Other websites don’t have HMRC treating them unfairly and trying to deplete their funds.
HMRC can’t arbitrarily choose whether or not to allow ESC. There are laws that will stop them from randomly targeting p118 clients.
The good P118 did for the landlord community is far more than what most other landlord groups or organizations ever did. There is enough support for their mission and their fight will be won.
Ryan Stevens
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Member Since January 2024 - Comments: 291
15:16 PM, 31st July 2024, About 2 years ago
Reply to the comment left by Oliver D at 31/07/2024 – 14:37
I understand exactly what is going on. Property 118 made a lot of money from the tax planning arrangements that they recommended, HMRC have every right to challenge the arrangements, they can challenge any taxpayer, you and I included. In the meantime Property 118 cannot make money from the arrangements, so it has a hole in its finances. This is because its business model is based around making money from the arrangements, it presumably has no other way of making significant amounts of money. This is called putting all your eggs in one basket, and is a commercial risk.
An ESC is exactly that, it is a concession. There are some uncertainties regarding this concession, as highlighted by CIOT to HMRC, see this link.
https://www.taxadvisermagazine.com/article/uncertainties-when-applying-esc-d32
Whilst it is nice to be positive about Property 118’s chances, there is of course no guarantee that ‘their fight will be won’. Despite the article saying that a lot of tax professionals were very positive about Property 118’s arrangements, it is also the case that a lot of tax professionals were not. Also, anyone can call themselves a tax professional, whether suitably qualified or not.
Mark Alexander - Founder of Property118
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Member Since January 2011 - Comments: 12120 - Articles: 1361
15:36 PM, 31st July 2024, About 2 years ago
Reply to the comment left by Ryan Stevens at 31/07/2024 – 15:16
This is not about tax or HMRC.
Without an income stream the website will cease to exist.
People who value the website and the Newsletters want to help keep it going.
Individual decisions on whether or not to donate will determine the fate of the Property118 website.
It really is as simple as that.
Jim Fraser
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Member Since October 2023 - Comments: 11
16:34 PM, 31st July 2024, About 2 years ago
Reply to the comment left by Ryan Stevens at 31/07/2024 – 13:01
There is a plethora of online news websites that charge a subscription to access articles. That is not unusual. Mr Alexander is asking those who value the website to volunteer a subscription, which I believe is a far nicer way to charge for a service that is clearly valued by many, myself included. I have happily subscribed to a modest monthly payment.
Harlequin
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Member Since May 2014 - Comments: 271 - Articles: 2
19:02 PM, 31st July 2024, About 2 years ago
Reply to the comment left by Jim Fraser at 31/07/2024 – 16:34
I saw this as keeping a very useful platform going – not looking for reason or blame and the HMRC case is a different topic (and as it has happened I do think a contribution could be due – but that again is separate) – the people who have spoken against a fund raise are members of this forum – so surely if you’ve bothered to do that you must in some way have an interest or you wouldn’t be here.
I’m that person who uses WIkipedia and responds when asked to contribute – to me it’s free info – likewise 118, I’m not that interested in the bank balances of the people who run it – different topic.
Jason
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Member Since February 2022 - Comments: 197
19:23 PM, 31st July 2024, About 2 years ago
Is this a reoccurring payment automatically on my card? Why when I select £25 its says £50 and when i select £50 it says £250?
Mark Alexander - Founder of Property118
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Member Since January 2011 - Comments: 12120 - Articles: 1361
21:55 PM, 31st July 2024, About 2 years ago
Reply to the comment left by Jason at 31/07/2024 – 19:23
Thank you so much for pointing that out.The anomalies have now been fixed, i.e £10 a month, £25 a month and £50 a month. Yes, it is a monthly payment until cancelled.
I had wondered why everyone went for the £10 option. Not that I mind at all but I was hoping that a few people might be feeling flush and generous.
patricia sander
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Member Since December 2016 - Comments: 12
10:27 AM, 2nd August 2024, About A year ago
Hi contributed £25pm but I only found this link by accident. You might like to promote it a bit more. P118 has always been a great platform and a ‘go to’ for me for current information/legislation. People pay for random podcasts so why not a tool of our trade? I have been availing of it for years at no cost! Long may P118 continue!