Privacy Policy
BACKGROUND:
Property118 Ltd understands that your privacy is important to you and that you care about how your personal data is used and shared online. We respect and value the privacy of everyone who visits this website,
www.property118.com (“Our Site”) and will only collect and use personal data in ways that are described here, and in a manner that is consistent with Our obligations and your rights under the law.
Please read this Privacy Policy carefully and ensure that you understand it. Your acceptance of Our Privacy Policy is deemed to occur upon your first use of Our Site
. If you do not accept and agree with this Privacy Policy, you must stop using Our Site immediately.
- Definitions and Interpretation
In this Policy the following terms shall have the following meanings:
| “Account” |
means an account required to access and/or use certain areas and features of Our Site; |
| “Cookie” |
means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below; |
| “Cookie Law” |
means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003; |
| “personal data” |
means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and |
| “We/Us/Our” |
Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB. |
- Information About Us
- Our Site is owned and operated by Property118 Ltd, a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.
- Our VAT number is 990 0332 34.
- Our Data Protection Officer is Neil Patterson, and can be contacted by email at npatterson@property118.com, by telephone on 01603 489118, or by post at 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.
- What Does This Policy Cover?
This Privacy Policy applies only to your use of Our Site. Our Site may contain links to other websites. Please note that We have no control over how your data is collected, stored, or used by other websites and We advise you to check the privacy policies of any such websites before providing any data to them.
- Your Rights
- As a data subject, you have the following rights under the GDPR, which this Policy and Our use of personal data have been designed to uphold:
- The right to be informed about Our collection and use of personal data;
- The right of access to the personal data We hold about you (see section 12);
- The right to rectification if any personal data We hold about you is inaccurate or incomplete (please contact Us using the details in section 14);
- The right to be forgotten – i.e. the right to ask Us to delete any personal data We hold about you (We only hold your personal data for a limited time, as explained in section 6 but if you would like Us to delete it sooner, please contact Us using the details in section 14);
- The right to restrict (i.e. prevent) the processing of your personal data;
- The right to data portability (obtaining a copy of your personal data to re-use with another service or organisation);
- The right to object to Us using your personal data for particular purposes; and
- If you have any cause for complaint about Our use of your personal data, please contact Us using the details provided in section 14 and We will do Our best to solve the problem for you. If We are unable to help, you also have the right to lodge a complaint with the UK’s supervisory authority, the Information Commissioner’s Office.
- For further information about your rights, please contact the Information Commissioner’s Office or your local Citizens Advice Bureau.
- What Data Do We Collect?
Depending upon your use of Our Site, We may collect some or all of the following personal data (please also see section 13 on Our use of Cookies and similar technologies):
- Name;
- Date of birth;
- Address and post code;
- Business/company name and trading status;
- Number of properties owned;
- Accountants details;
- Contact information such as email addresses and telephone numbers;
- Proof of residence and ID;
- Financial information such as income and tax status;
- Landlords insurance renewal dates;
- Property Portfolio details such as value and mortgage outstanding;
- How Do We Use Your Data?
- All personal data is processed and stored securely, for no longer than is necessary in light of the reason(s) for which it was first collected. We will comply with Our obligations and safeguard your rights under the GDPR at all times. For more details on security see section 7, below.
- Our use of your personal data will always have a lawful basis, either because it is necessary for our performance of a contract with you, because you have consented to our use of your personal data (e.g. by subscribing to emails), or because it is in our legitimate interests. Specifically, we may use your data for the following purposes:
- Providing and managing your access to Our Site;
- Supplying our products and or services to you (please note that We require your personal data in order to enter into a contract with you);
- Personalising and tailoring our products and or services for you;
- Replying to emails from you;
- Supplying you with emails that you have opted into (you may unsubscribe or opt-out at any time by the unsubscribe link at the bottom of all emails;
- Analysing your use of our site and gathering feedback to enable us to continually improve our site and your user experience;
- Provide information to our partner service and product suppliers at your request.
- With your permission and/or where permitted by law, We may also use your data for marketing purposes which may include contacting you by email and or telephone with information, news and offers on our products and or We will not, however, send you any unsolicited marketing or spam and will take all reasonable steps to ensure that We fully protect your rights and comply with Our obligations under the GDPR and the Privacy and Electronic Communications (EC Directive) Regulations 2003.
- You have the right to withdraw your consent to us using your personal data at any time, and to request that we delete it.
- We do not keep your personal data for any longer than is necessary in light of the reason(s) for which it was first collected. Data will therefore be retained for the following periods (or its retention will be determined on the following bases):
- Member profile information is collected with your consent and can be amended or deleted at any time by you;
- Anti-Money Laundering information and tax consultancy records are to be kept as required by law for up to seven years.
- How and Where Do We Store Your Data?
- We only keep your personal data for as long as We need to in order to use it as described above in section 6, and/or for as long as We have your permission to keep it.
- Some or all of your data may be stored outside of the European Economic Area (“the EEA”) (The EEA consists of all EU member states, plus Norway, Iceland, and Liechtenstein). You are deemed to accept and agree to this by using our site and submitting information to Us. If we do store data outside the EEA, we will take all reasonable steps to ensure that your data is treated as safely and securely as it would be within the UK and under the GDPR
- Data security is very important to Us, and to protect your data We have taken suitable measures to safeguard and secure data collected through Our Site.
- Do We Share Your Data?
- We may share your data with other partner companies in for the purpose of supplying products or services you have requested.
- We may sometimes contract with third parties to supply products and services to you on Our behalf. Where any of your data is required for such a purpose, We will take all reasonable steps to ensure that your data will be handled safely, securely, and in accordance with your rights, Our obligations, and the obligations of the third party under the law.
- We may compile statistics about the use of Our Site including data on traffic, usage patterns, user numbers, sales, and other information. All such data will be anonymised and will not include any personally identifying data, or any anonymised data that can be combined with other data and used to identify you. We may from time to time share such data with third parties such as prospective investors, affiliates, partners, and advertisers. Data will only be shared and used within the bounds of the law.
- In certain circumstances, We may be legally required to share certain data held by Us, which may include your personal data, for example, where We are involved in legal proceedings, where We are complying with legal requirements, a court order, or a governmental authority.
- What Happens If Our Business Changes Hands?
- We may, from time to time, expand or reduce Our business and this may involve the sale and/or the transfer of control of all or part of Our business. Any personal data that you have provided will, where it is relevant to any part of Our business that is being transferred, be transferred along with that part and the new owner or newly controlling party will, under the terms of this Privacy Policy, be permitted to use that data only for the same purposes for which it was originally collected by Us.
- How Can You Control Your Data?
- In addition to your rights under the GDPR, set out in section 4, we aim to give you strong controls on Our use of your data for direct marketing purposes including the ability to opt-out of receiving emails from Us which you may do by unsubscribing using the links provided in Our emails.
- Your Right to Withhold Information
- You may access certain areas of Our Site without providing any data at all. However, to use all features and functions available on Our Site you may be required to submit or allow for the collection of certain data.
- You may restrict Our use of Cookies. For more information, see section 13.
- How Can You Access Your Data?
You have the right to ask for a copy of any of your personal data held by Us (where such data is held). Under the GDPR, no fee is payable and We will provide any and all information in response to your request free of charge. Please contact Us for more details at info@property118.com, or using the contact details below in section 14.
- Our Use of Cookies
- Our Site may place and access certain first party Cookies on your computer or device. First party Cookies are those placed directly by Us and are used only by Us. We use Cookies to facilitate and improve your experience of Our Site and to provide and improve Our products AND/OR We have carefully chosen these Cookies and have taken steps to ensure that your privacy and personal data is protected and respected at all times.
- All Cookies used by and on Our Site are used in accordance with current Cookie Law.
- Before Cookies are placed on your computer or device, you will be shown a cookie prompt requesting your consent to set those Cookies. By giving your consent to the placing of Cookies you are enabling Us to provide the best possible experience and service to you. You may, if you wish, deny consent to the placing of Cookies; however certain features of Our Site may not function fully or as intended. You will be given the opportunity to allow only first party Cookies and block third party Cookies.
- Certain features of Our Site depend on Cookies to function. Cookie Law deems these Cookies to be “strictly necessary”. These Cookies are shown below in section 13.5. Your consent will not be sought to place these Cookies, but it is still important that you are aware of them. You may still block these Cookies by changing your internet browser’s settings as detailed below in section 13.9, but please be aware that Our Site may not work properly if you do so. We have taken great care to ensure that your privacy is not at risk by allowing them.
- The following first party Cookies may be placed on your computer or device:
| Name of Cookie |
Purpose |
Strictly Necessary |
| JSESSIONID |
Used only to collect performance data, with any identifiable data obfuscated |
No |
| __cfduid |
This cookie is strictly necessary for Cloudflare's security features and cannot be turned off. |
Yes |
- Our Site uses analytics services provided by Google Analytics and Facebook. Website analytics refers to a set of tools used to collect and analyse anonymous usage information, enabling Us to better understand how Our Site is used. This, in turn, enables Us to improve Our Site and the products AND/OR services offered through it. You do not have to allow Us to use these Cookies, however whilst Our use of them does not pose any risk to your privacy or your safe use of Our Site, it does enable Us to continually improve Our Site, making it a better and more useful experience for you.
- The analytics service(s) used by Our Site use(s) Cookies to gather the required information.
- The analytics service(s) used by Our Site use(s) the following Cookies:
| Name of Cookie |
First / Third Party |
Provider |
Purpose |
| __utma, __utmb, __utmc, __utmt, __utmz |
First |
Google |
Helps to understand how their visitors engage with our website |
| _fbp |
First |
Facebook |
Helps to understand how their visitors engage with our website |
- In addition to the controls that We provide, you can choose to enable or disable Cookies in your internet browser. Most internet browsers also enable you to choose whether you wish to disable all cookies or only third party cookies. By default, most internet browsers accept Cookies but this can be changed. For further details, please consult the help menu in your internet browser or the documentation that came with your device.
- You can choose to delete Cookies on your computer or device at any time, however you may lose any information that enables you to access Our Site more quickly and efficiently including, but not limited to, login and personalisation settings.
- It is recommended that you keep your internet browser and operating system up-to-date and that you consult the help and guidance provided by the developer of your internet browser and manufacturer of your computer or device if you are unsure about adjusting your privacy settings.
- Contacting Us
If you have any questions about Our Site or this Privacy Policy, please contact Us by email at info@property118.com, by telephone on 01603 489118, or by post at 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB. Please ensure that your query is clear, particularly if it is a request for information about the data We hold about you (as under section 12, above).
- Changes to Our Privacy Policy
We may change this Privacy Policy from time to time (for example, if the law changes). Any changes will be immediately posted on Our Site and you will be deemed to have accepted the terms of the Privacy Policy on your first use of Our Site following the alterations. We recommend that you check this page regularly to keep up-to-date.
ann
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Sign Up13:09 PM, 21st October 2018, About 6 years ago
Reply to the comment left by Mark Alexander at 27/03/2018 - 11:39
Mark, to clarify: so you mean Andrew (the OP) despite having gone through scrutiny with HMRC (and now being in an OK structure as he has gone through HMRC scrutiny) is still not a structure to be replicated?
Mark Alexander - Founder of Property118
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Sign Up8:18 AM, 22nd October 2018, About 6 years ago
Reply to the comment left by Ann at 21/10/2018 - 13:09
I don’t understand your question. What “HMRC scrutiny” are you referring to please?
ann
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Sign Up14:28 PM, 22nd October 2018, About 6 years ago
Reply to the comment left by Mark Alexander at 22/10/2018 - 08:18
Sure.
I'm referring to Andrew Shepperd's message on 15:58 PM, 21st March 2018:
"We have now been through a full HMRC tax investigation! Be careful what you put online lol. We had to restructure what we were doing as the HMRC inspectors did not agree about the pepercorn rent. To cut a very long 12 month story short we complied fully with HMRC, received no fines, and basically had made an error when setting up. We still own all our property in our own name, we still rent them through our limited company to our tenants, our limited company works as the agent and charges appropriate and approved fees, the difference between the rental income and expenditure is then returned to us as owners. We pay corp tax through the ltd company and income tax on rents received as owners. We are members of the NLA and all our documentation such as AST s are used from there site, we also use there tenant check system. In plain simple terms you cannot lease your own property to your Ltd Company and then the company rent them out as the transaction is not deemed to be at arms length. Hope it helps."
What I read from it is that his structure is OK to be replicated, given he even got an OK from HMRC.
Ben Smith
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Sign Up12:45 PM, 26th November 2018, About 6 years ago
Reply to the comment left by Robert Mellors at 26/03/2015 - 13:03
Hi Robert,
Hope you are well.
I am contacting you after a post you commented on which was on the site property118. You have an exemplary biography and professional experience in renting and that is the area I am interested in.
I just bought a flat in my name (brand new, 999 year lease, underfloor heating you know the works) however my place of work is relocating me abroad so I am choosing to rent it out. I can afford the mortgage (and rent to live abroad) from my work place salary.
Where I need your advice is I am looking to create a Ltd. company (of which my parents and I will be directors of) to lease the flat from me. The company would then rent out the flat and act as the rent collector and letting agent and pay for damages repairs, advertising etc. My parents do would all the managing, I would retain as a director I guess to watch from a distance that it is all going okay (I will be living abroad post Christmas so I don’t really want to be involved). They are both retired now so it gives them something to keep them busy as well as I know my flat is in the hands of competent agents.
We recon the flat could be let out for £1250 pcm (2 bedroom brand spanking new in Surrey) and I would charge the company £800 pcm for leasing it from me. The remaining 450 each month of course pays for the up keep of the flat and whatever is left from that we pay 19% corporation tax and then my parents can take out a well-earned dividends from what remains.
Benefits:
I can put my flat in the hands of competent and trust worthy individuals for it to be rented out and managed as I will be outside the UK.
The income I receive is less than 12k (the tax free amount HMRC grants me).
The company pays its corporation tax and my parents can reward themselves with whatever is left. They are retired and sitting on their own investments they don’t need the money but it gives them something to do.
My question really is all this above board? I appreciate I am semi avoiding income tax (in so far as if I was to receive 100% on the rental income directly to me I would be over the tax free amount). But it is going to a company I part own, I won’t do any of the ‘work’, the company pays for the upkeep and surely I am allowed to lease my property out to anyone as I choose? Finally before you ask yes my mortgage lender is allowing me to rent it out even though I don’t have a buy to let mortgage they understand work is forcibly relocating me. They just wanted a formal letter from my work and that was enough to get the go ahead if I want to rent it out. Do I need further permission if I was leasing it to a company and then again it being rented to an individual? I have proved to my lender than my salary covers the mortgage and my rent abroad my ability to pay the mortgage has nothing to do with the renting of the flat, its just a side project for extra money.
Thanks for your time in reading this.
Mark Alexander - Founder of Property118
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Sign Up13:18 PM, 26th November 2018, About 6 years ago
Reply to the comment left by Ben Smith at 26/11/2018 - 12:45
I think this could be fraught with issues such as HMRC's "Transfer of income streams" rules - see link below.
http://www.legislation.gov.uk/ukpga/2009/10/schedule/25
Robert M
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Sign Up13:24 PM, 26th November 2018, About 6 years ago
Reply to the comment left by Ben Smith at 26/11/2018 - 12:45
Hi Ben Smith
I have just answered an identical question sent to me on Linked In under the name of William Swain. Is this your alias, or some person connected with you, or is this some sort of con? It all seems very suspicious. I advised you that in relation to tax matters you would be better off speaking to Mark Alexander as I am not an expert in tax so I am unable to advise on this.
ann
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Sign Up19:30 PM, 15th January 2019, About 6 years ago
Reply to the comment left by andrew sheppard at 21/03/2018 - 15:58"we still rent them through our limited company to our tenants, our limited company works as the agent and charges appropriate and approved fees, the difference between the rental income and expenditure is then returned to us as owners. We pay corp tax through the ltd company and income tax on rents received as owners."
I don't understand. Doesn't this mean that "you lease your own property to your Ltd Company and then the company rent them out"?
Could you clarify the difference here @andrew sheppard?
Stewart
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Sign Up12:26 PM, 17th September 2020, About 4 years ago
Hi everyone and I appreciate this post is quite old now but a very interesting read.
Did anyone ever have a definitive answer to whether you can rent your properties to your LTD company and then the LTD company let them out? I was looking to move all my properties into to the LTD company over time but of course, there is CGT and stamp duty to pay when doing this so it becomes an expensive project.
The sensible option to me (given I have no mortgage against any) is to do the above.
I am waiting for a reply for my accountant but if anyone has done this with any success and it not classed as avoidance I would be interested.
many thanks
Mark Alexander - Founder of Property118
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Sign Up21:44 PM, 18th September 2020, About 4 years ago
Reply to the comment left by Stewart at 17/09/2020 - 12:26
Yes, the definitive answer is that you can certainly do that but there will be no tax advantage in doing so. The legislation is linked below.
https://www.legislation.gov.uk/ukpga/2009/10/schedule/25
I suggest you book a Property118 Tax Planning consultation - see https://www.property118.com/tax/