Alex

Registered with Property118.com
Sunday 23rd March 2014

Providing essential rental accommodation since
1996

Insures properties through a broker recommended by Property118
No


Latest Comments

Total Number of Property118 Comments: 28

Alex

11:59 AM, 17th April 2018
About A year ago

Despicable vehemently anti-landlord Guardian article

Reply to the comment left by Mark Alexander at 17/04/2018 - 08:46
Hi Ros. How about making a complaint to the Independent Press Standards Organisation? https://www.ipso.co.uk/. Alex... Read More

Alex

16:42 PM, 31st January 2017
About 2 years ago

Summer Budget 2015 - Landlords Reactions

It's an interesting suggestion, which would certainly have the effect of raising revenue without the distorting and disproportionate effects of S24 on encumbered portfolio landlords. However, I don’t see that the Government would go for this.

Firstly, it would damage the bottom line of institutional investors and it’s obvious that they have a lot of influence over Government. What it would do, by choosing not to consider it, is expose the fact that Government does not want to damage the bottom line of institutional investors. Remember Gideon’s comments when a Ltd Co turnover tax was suggested.

Secondly, it would not meet the Government’s obvious aim to kill off small private landlords, by doing the exact thing of levelling the playing field. Again though, by choosing not to consider it, the Government would expose the fact that they want to kill us off to allow institutional investors to enter the market with an unfair advantage.... Read More

Alex

18:35 PM, 1st January 2017
About 3 years ago

Keeping the momentum going against Section 24

It allows for finance costs to be tax deductible when buying shares in a company that you have a 'relationship' with. These scenarios are akin to owning buy to let property, i.e. owning a reasonable share of the company (property), or working in the company (property).

You may be able to claim relief for interest paid or for alternative finance payments where the loan or alternative finance arrangement is used to:
•buy ordinary shares in, or lend money to, a close company in which you own more than 5% of the ordinary share capital on your own or with associates
•buy ordinary shares in, or lend money to, a close company in which you own any part of the share capital and work for the greater part of your time in the management and conduct of the company’s business, or that of an associated company
•acquire ordinary share capital in an employee controlled company if you are a full-time employee – we regard you as a full-time employee if you work for the greater part of your time as a director or employee of the company or of a subsidiary in which the company has an interest of 51% or more... Read More

Alex

18:07 PM, 23rd December 2016
About 3 years ago

Keeping the momentum going against Section 24

"Income tax relief for finance costs is not available to ordinary homebuyers. Nor is it available to those investing in other assets, such as shares." This statement was made by Jane Ellison, Financial Secretary to the Treasury.

We all know what a load of rubbish it is to compare owner occupiers and landlords. One is a business and should be able to offset all the costs of generating its profit before paying tax, the other isn't.

However, we must also be ever vigilant to challenge the last part of Jane Ellison's statement whenever this argument is used to support Section 24, i.e. “Nor is it available to those investing in other assets, such as shares”.

Jane Ellison is obviously as misinformed as much of the rest of the Government. HMRC certainly DOES allow tax relief on interest on qualifying loans used to lend money to, or buy shares in companies, subject to certain simple rules. See “HS340 Interest and alternative finance payments eligible for relief on qualifying loans and alternative finance arrangements (2015)”.

The rules to qualify are remarkably similar to the situation experienced by 99% of landlords with mortgages, i.e. needing to own at least 5% of the company (property), or working for the greater part of your time in the management and conduct of the company’s (property’s) business.

Make sure you ram this down anyone’s throat that compares investing in property to investing in shares as an argument to support Section 24!... Read More

Alex

11:13 AM, 10th December 2016
About 3 years ago

Property118 Win Outstanding Achievement of the Year 2016 at the Property Investor Awards

Well done to Mark and all the team behind Property118. Your achievements this year have been nothing short of "outstanding"! Let's remember and give praise to every contributor to Property118; the P118 team, all the knowledge-sharers and all the volunteers working so hard on behalf of us all on so many pro-landlord efforts. This award is for all you guys!... Read More