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.
Neil Patterson
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Sign Up0:00 AM, 30th November -0001, About 2048 years ago
The Chancellor George Osborne will be restricting mortgage interest tax relief to the basic rate of tax (currently 20%) for Landlords.
In his first budget speech in the first conservative majority government for 18 years he "said it is a budget for working people"
He said the measure will address unfairnesses in property taxation and will be phased in gradually over a four year period from 2017.
For Landlords paying the high rate of tax on incomes above £43,000 at 40%: for every £100,000 borrowed at a mortgage rate of 4% this will cost an extra £66.67 per month.
There are many more policies that will also have a direct affect the Private Rented Sector:
£26,000 cap on benefits reduced to £23,000 in London and £20,000 elsewhere - This is going to hit LHA landlords particularly hard
Working age benefits to be frozen for four years - including tax credits and local housing allowance
18-21-year-olds will not be entitled to claim housing benefit automatically, with a new Earn to Learn obligation.
Rents paid in social housing sector to be reduced by 1% per year for four years
Higher income households are to pay market rents for social housing. Income thresholds of £40,000 in London and £30,00 elsewhere - This will surely make social housing less attractive and increase demand in the PRS
Rent a room tax relief increase to £7500
IHT From 2017, there will be a new £175,000 allowance on homes left to children or grandchildren on top of the existing allowance allowing £1 million to be passed on tax-free.
Non-Doms to pay Inheritance Tax on all Uk property from April 2017 - will these ease the flood of foreign investment into the London market in particular?
Annual tax relief on pension contributions to be limited to £10,000 a year - This will drive people to invest in different forms of assets which could include property
Tax free personal allowance increased to £11,000 from next year
High rate income tax threshold increased to £43,000 from next year
New National Living wage £7.20 per hour and to offset this corporation tax reduced to 19% in 2017 and 18% in 2020 and no NI on National Living wage
Insurance premium tax to increase from 6% to 9.5% this November - Cost of Landlords insurance to increase by 3.5%
Limit of child tax credits and Universal credit to two children after April 2017 for new applicants
New help to buy ISA and housing association Right to Buy
New 8% surcharge on bank profits from January next year to offset a gradual lowering of the Bank Levy over the next 6 years - This is to encourage the Financial sector to stay in London and hence keep the mortgage market strong.
Macro economic statistics:
The economy grew by 3% last year and OBR forecasts growth to be 2.4% in 2015 and at similar levels for the next four years.
The budget deficit has fallen from 10.2% of national income to a forecast of 3.7% in 2015 -2016. £12 billion are to be saved in Welfare and £5 billion in tax evasion and avoidance.
John Blackwood
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Sign Up14:12 PM, 8th July 2015, About 9 years ago
This is a shocking decision by the Chancellor of the Exchequer which unfairly discriminates against landlords who provide valuable housing across Scotland. In other businesses, tax is applied on profit, which is as it should be."
"Although we welcome other measures in the Budget such as reforms to the Rent A Room scheme which will increase supply of affordable rented accommodation, the decision on buy-to-let mortgages means landlords will essentially be taxed for investing in their businesses, something utterly unthinkable in any other sector. As a result of this increase cost and risk to landlords, you may see some within the sector feeling they are forced to increase their rent levels which would obviously have a huge negative impact on tenants.”
“The Scottish Association of Landlords have been working constructively with both Shelter and the Scottish Government to find ways of increasing supply to drive down rent levels in hot-spots across Scotland but this decision by the Chancellor potentially takes the legs away from that valuable partnership working."
"We will be consulting our members, Scottish MPs and MSPs, as well as the Scottish Government and the third sector to find ways of trying to overturn this decision or, at the very least, to mitigate the damage this could cause to our business and to our customers in Scotland.”
https://www.scottishlandlords.com/NewsPolicy/PolicyItem.aspx?ArticleId=322
James dengel
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Sign Up14:14 PM, 8th July 2015, About 9 years ago
I believe that the movement in the tax will mean it might be more tax efficient to hold onto property as a limited company depending on where you are in life.
The removal of Tax relief will mean we are paying more tax 20% on the interest payments. Then the reduction of corporation tax. I certainly will be thinking of doing this on my next purchase as I am quite young and do not consider the inheritance tax to be an issue for me presently.
It does seem that the Rent a Room allowances should have been raised many years ago and should have been rising in line with inflation. I do not think that it will have much affect on a wide scale unfortunately.
Mike W
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Sign Up15:00 PM, 8th July 2015, About 9 years ago
I agree with John Blackwood. The logic of a different tax rate for loan finance for BTL property is warped. Any other business calculates its profit and it is taxed on the profit. The cost of finance is a clear expense of doing business.
Landlord should be careful however in switching to companies to run their properties. Many self employed converted to companies when Brown introduced a tax free income for companies only to withdraw it later. However if the banks quickly realise that there will be a new company sector for property finance and reduce the silly interest rates for companies, I think I will transfer my properties into a company. Yes the CGT allowance will no longer apply to the sale of the house but instead it will apply to the sale of the company. It could be interesting to see some restructuring of the sector?
I would welcome the thoughts of 118 tax advisors .....
Yvette Newbury
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Sign Up15:23 PM, 8th July 2015, About 9 years ago
"The budget document revealed that a second raid on landlords’ tax breaks is planned from April 2016, when the current system that allows those to claim 10% of their rent for wear and tear will be scrapped. From that date, landlords will only be able to deduct costs they actually incur. "
Ouch that one hurts!
http://www.theguardian.com/uk-news/2015/jul/08/osborne-buy-to-let-tax-relief-limit-budget
Fed Up Landlord
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Sign Up15:27 PM, 8th July 2015, About 9 years ago
At the risk of sounding naive I do not understand what this is about. Mortgage interest on BTL mortgages has always been a cost of BTL which comes off your profits. Where does this 20% tax rate come info it?
james pearce
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Sign Up15:28 PM, 8th July 2015, About 9 years ago
all moves seem to be deterring anyone from bothering to earn more than 43K p.a.
Do we have a conservative or labour government I am beginning to wonder.
Neil Patterson
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Sign Up15:33 PM, 8th July 2015, About 9 years ago
Reply to the comment left by "Gary Nock" at "08/07/2015 - 15:27":
Hi Gary,
The mortgage interest will still come off your profits, but you will only be able to claim tax relief at a maximum of 20% not at the rate of tax you actually pay which could be higher eg. 40% or 45%.
Dr Rosalind Beck
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Sign Up15:37 PM, 8th July 2015, About 9 years ago
I'm suffering from my thick gene this afternoon, so wonder if someone can help me out.
If I pay £5,000 per month in interest at the moment - so £60,000 per year (mostly at a rate of about 2.75%), and if my income is £20,000 per month, and I have a gross annual income of £240,000 - usually, I would put down the £60,000 interest payments as one of my costs, and say, £60,000 on other costs - maintenance, insurance etc., so I would be left with an annual profit of £80,000 (halved, as the business is shared with a partner), which would then be taxed at the basic rate - then would I no longer be able to put the £60,000 in as a cost? - does this new rule about basic tax relief mean that it would now be assumed that £48,000 of this (80%) is part of my profit, even though it isn't? Sorry if I'm getting this all wrong - there's some maths I just can't do (I can never work out what the clocks going forward and backwards mean either!)
Yvette Newbury
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Sign Up15:39 PM, 8th July 2015, About 9 years ago
Reply to the comment left by "Gary Nock" at "08/07/2015 - 15:27":
If your net rental profits prior to deducting form your mortgage interest are over the limit for 40% tax, then limiting the relief will mean that instead of your earnings dipping below 40% once the mortgage relief has been applied that you will now have to pay 40% on some of that money. If you believe that will not apply to you, notice that the withdrawal of wear and tear from April 2016 will mean your taxable rental income is boosted by an additional 10% gross, as presently wear and tear is deducted before your taxable earnings are calculated