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Offshore income and assets

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Published: 01/09/2017   Last Updated: 02/09/2017 10:12:57   Tags: Haringey, Housing, Landlords, Tenants, News, Council, North London, HMRC, Tax, Income

If you have money or other assets abroad, you could owe tax in the UK


Things are changing – the tax world is becoming more transparent

• HM Revenue and Customs (HMRC) is getting tougher on those not paying the right amount of tax across their offshore tax affairs.

• From 2016, HMRC is getting new financial information about our customers from more than 100 jurisdictions – including details about overseas accounts, structures, trusts, and investments.

• HMRC is already using information, supplied by overseas banks, insurers, and wealth and assets managers, to identify the minority who are not paying what they owe.

Are you confident that your UK tax affairs are up-to-date?

You need to regularly check that you have declared all of your UK tax liabilities and, if needed, bring your tax affairs up-to-date. 
This is your responsibility.

Personal circumstances change. For example, you may have recently inherited assets overseas. 
Tax laws change too. 
All of this means that previous advice can be out-of-date, with costly consequences.

• If you are confident that your tax affairs are up-to-date and complete, then you don’t need to do anything further.

• If you are unsure, we recommend that you speak to a tax adviser to find out if you need to take action now.

• If you find that you need to bring your tax affairs up-to-date, it can be easier than you think. You can choose
to do this now using HMRC’s straightforward online disclosure facility at www.gov.uk/guidance/worldwide-disclosure-facility-make-a-disclosure 

If you have not paid the right amount of tax and choose not to take action now, you need to know that:
• HMRC will find out about your money and assets overseas through new information from more than 100 jurisdictions.

• Penalties are increasing for those who are not paying the right amount of tax on their offshore assets, and you can even face criminal prosecution. Under new rules, you could face further penalties based on the value of the asset as well as the tax due, resulting in potentially life-changing consequences.

If you choose to delay in coming forward, it’s very likely to cost you more and there is also more chance that HMRC will come for you.

Come to us before we come for you
Remember
• If you are confident that your tax affairs are up-to-date, and you have declared all of your UK tax liabilities, then you don’t need to do anything further.

We are already using early financial information to identify the minority who are not paying what they owe.

If you need to bring your tax affairs up-to-date, it is your responsibility to do so – act now at

www.gov.uk/guidance/worldwide-disclosure-facility-make-a-disclosure

Diana the 'People's Princess'

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Published: 31/08/2017   Last Updated: 31/08/2017 16:02:57   Tags: Haringey, Housing, Landlords, Tenants, News, Council, North London

The 'People's Princess'


The iconic royal, Diana Princess of Wales, would be 56 now. Diana was an inspiration to so many, and she was aptly dubbed the 'People's Princess' owing to her kindness and compassion. Although Diana sadly passed away 20 years ago, her legacy continues to live on through her children, William and Harry, and her grandchildren, George and Charlotte, of whom we are sure she would be immensely proud. 

On what is likely to be a reflective day for our royal family, we also reflect on the wonderful life she led. Here, we look back at the most memorable moments that truly capture Diana Princess of Wales as a style icon, philanthropist, and - of course - a loving mother.

1. Princess Diana's Wedding in 1981
Lady Diana Spencer married Prince Charles in 1981 in what was called 'the wedding of the century'. Her memorably large dress was designed by David and Elizabeth Manuel, consisting of huge puffed layers of taffeta, topped with lace, sequins and tens of thousands of pearls.




2. Her first appearance with her son, William
On June 21st 1982, Princess Diana appeared on the steps of St. Mary's Hospital to introduce the new heir to the throne, Prince William. 2 years ago, William welcomed his very own heir on the same steps, alongside Kate Middleton who also donned blue polkadots.




3. Diana's first major tour 
In 1983, Diana accompanied Prince Charles and tiny baby William for her first major tour. The young royals visited Australia and New Zealand, meeting representatives of the Maori people. It was here that Diana first demonstrated her kindness to the people she met, leading to the nickname she held throughout the rest of her life of being the 'People's Princess'.




4. The birth of Prince Harry
Just two years after the birth of her first child, Princess Diana welcomed Prince Harry to the world on September 15th, 1984. Today, Harry follows in his mother's footsteps as a philanthropic figure.




5. The Travolta Dress
Princess Diana was quickly becoming a style icon, and her appearance at a White House Gala cemented her in this role. While visiting President Reagan, Diana wore a stunning midnight-blue evening gown designed by Victor Edelstein. The dress was dubbed the 'Travolta Dress', as she danced with American heart-throb John Travolta at the gala, and the pictures of them gliding around the room circulated widely. In 2013, the dress was auctioned for £240,000, making it the most expensive auctioned dress.




6. Her role as President of Great Ormond Street Hospital for Children
Princess Diana was involved in many charitable causes, but one of her most notable was the work she did with children. In 1989, she became the president of the Great Ormond Street Hospital for Children in London, and she regularly visited the hospital and supported them in their new developments.




7. The Leonardo Prize
In June 1995, Diana visited a children's hospital in Moscow that she had previously supported through her charity work. While in the Russian capital, Diana was awarded with the Leonardo Prize, given to the most distinguished patrons and people in the arts, medicine and sport. This was to be the first in a series of prizes rewarded to her for her philanthropic work.




8. Her work with AIDs victims
In the 1980s and early 1990s, there was a huge stigma attached to those with HIV and AIDS, and they suffered immeasurably. Princess Diana played a huge role in de-stigmatising AIDS, first by shaking hands with an AIDS sufferer in 1987 when it was still unknown whether the disease could be contracted by physical contact. In 1989, she opened the Landmark AIDS Centre in South London, where she continued to work closely with the patients. Although this venture did not have the support of the royal family, her work continues to be recognised today as an act of extreme kindness and compassion towards a highly stigmatised group.




9. Her work with the Red Cross
Among Diana's other notable charitable causes was the Red Cross, of which she became a patron in 1988. This role led her to travel the world in support of Red Cross projects. Here, she is pictured visiting the Red Cross centre in Nepal in March 1993.





Pros & Cons of Green Lanes restaurants

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Published: 25/08/2017   Last Updated: 29/08/2017 13:24:41   Tags: Haringey, Housing, News, Council, North London, Local, Business, Restaurant

Residents say giant new Turkish restaurant on Green Lanes flouts rules to preserve the high street


Residents campaigning to shut down a Turkish restaurant that opened unlawfully in London’s “Little Istanbul” say a rapid rise in the number of places to eat and drink is killing their high street.
Sira Vanadokya, which opened at the weekend, takes up three shopfronts along Green Lanes in Harringay, which were knocked into one without full planning consent.

Objectors accuse the owners, who have been refused retrospective planning permission, of flouting rules designed to preserve the balance of the street scene. Fifty have written to Haringey council, saying traditional retailers have been squeezed out of Green Lanes over the past decade, leaving the street a “ghost town” by day.

However, the restaurant owners say the venue enhances the street’s reputation as a destination for Turkish and Kurdish cuisine, drawing parallels with foodie destinations such as Chinatown and Brick Lane, which attract customers from across the capital.

Michael Anderson, who has lived in the area for 33 years, said: “Fifteen years ago when we started to get restaurants around here I welcomed it because it had become deserted.
"But now it seems everyone has the same idea. A  lot of the ordinary trading shops are dying. We are at a tipping point.” Council figures show restaurants, pubs and takeaways comprise a quarter of the 142 units on the mile-long strip. 

Hugh Flouch, founder of community website Harringay Online, said: “I do use the local restaurants and it’s great we have a vibrant restaurant economy but I don’t want that to be all there is.
"People have talked about wanting a more diverse high street offer including things like a fish shop, a book shop and a stationers.” 

The Sira is made up of three units which the owners successfully applied to convert into three individual restaurants one by one over the past 12 months.
However, an overall application to permanently combine them into a single diner of 5,000 square feet, open from 7am until 2am daily, was refused last week. Objectors have complained about noise, cooking smells and public disorder from the bigger outlet, equivalent to the size of two tennis courts. 

One wrote: “We have no need of any further huge restaurants on this stretch of Green Lanes. To grant retrospective planning permission would send the message that local planning law is to be flouted by simply ignoring it.” In another objection sent to the council, Ian Sygrave, of residents’ group the Ladder Community Safety Partnership, accused the owners of using “dubious and murky” tactics in their attempt to change the building’s use. He added: “Every new loss of a shop undermines the viability of existing outlets and helps to reduce daytime footfall in favour of the night-time economy.”
In their council application, the owners said the venue was part of a cultural tradition of Turkish and Cypriot restaurants in Green Lanes which “will enhance the vibrancy and vitality of the town centre, particularly during festival times”. In a letter backing the new restaurant, Shefik Mehmet, chairman of Harringay Traders Association, said: “We like to draw similarities with Chinatown and Southall. Green Lanes is the Turkish equivalent.” 

Councillor Ali Ozbek said: “The exciting restaurants have not only added economic improvement but also helped neighbouring units to benefit.”

Haringey council said: “We are aware the site has started trading as a restaurant without planning permission and have passed this on to our enforcement team who are investigating further.”

The BEAST at Alexandra palace

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Published: 24/08/2017   Last Updated: 24/08/2017 14:54:24   Tags: Haringey, Things To Do, News, Ally Pally North London, Fun, Bank Holiday

The BEAST

It's the world's largest inflatable obstacle course, and it's coming to Ally Pally 

At 272 metres long, with 32 inflatable obstacles, a DJ and epic light displays, this ain't your standard bouncy castle in a pub garden. 
This is serious.
That's why it's called The Beast.
The monster inflatable is being blown up at Ally Pally this August bank holiday

Street food vendors, including Saucy Chip and Taco Revolution, will also be on site, alongside bars with cocktails, craft beer and prosecco on tap. 
Our only advice is to indulge after and not before you take on The Beast. 
Definitely not before.

The Beast will be at Alexandra Palace from Friday August 25 to Monday August 28
It'll be open between 10.00am and 11.00pm, with morning sessions for kids and families. 
Please note the following age restrictions:
10am-10:45am 11-15 years old only
11am – 11pm Adults only (ages 16+)
The Beast is a physical obstacle course, so we advise to wear comfortable clothing.

DO I NEED A TICKET?
Yes. Sessions on The Beast inflatable are ticketed yes and will run through the day in 15 minute blocks from 10.00am to 11.00pm. You will need to purchase a ticket in advance to experience The Beast.
However, the food, drink and party areas will be open to the public throughout and you don’t need a ticket to access these areas.
 
HOW MUCH DOES IT COST?
Tickets are limited so don’t miss out by booking yours today. The Beast sessions are ticketed and will run through the day in 15 minute blocks from 10.00am to 11.00pm, with morning sessions for kids. Each ticket costs £20 (plus a £2 booking fee) and includes one full circuit on The Beast. The food, drink and party areas will be open throughout your experience

IS THERE AN AGE LIMIT TO GO ON THE BEAST?
Afraid so – for the adult sessions which will run from Midday to closing at 11pm each day, you will need to be 16 or over.
There are morning sessions for kids each day from 10am, but these will only be for 11-15 years olds.



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Landlords will be required to report quarterly to HMRC

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Published: 22/08/2017   Last Updated: 22/08/2017 16:22:06   Tags: Haringey, Housing, Landlords, Tenants, News, Council, North London

LANDLORDS - Are you aware from April 2018 you will be required to report to HMRC quarterly?

Hmrc has confirmed the timetable for the rollout of quarterly reporting and a year end reconciliation under Making Tax Digital with the first tranche of taxpayers, including buy-to-let landlords and the self-employed, set to kick in from April 2018



The changes will affect most businesses, including micro and small businesses. This includes over three million self-employed individuals (including around 900,000 buy-to-let landlords), 1.6m companies, over 400,000 ordinary partnerships, and about 600,000 businesses with income from different sources (for example, both self-employment and property).
The requirement for quarterly reporting and a subsequent year end reconciliation will be mandatory for all businesses by 2021, although the introduction is being staggered depending on the size of business so that larger incorporated businesses will not be drawn into the system before 2019 at the earliest.

Quarterly reporting for landlords and the self employed will start from 6 April 2018 although the threshold of £10,000, suggested in the original proposal documents, is still up for review, with the government yet to confirm whether this will be raised to exclude more of the smallest unincorporated businesses and sole traders. This arbitrary figure has come in for criticism as it is even below the current tax free threshold for individual taxpayers.

There is also some discussion about whether the deferral threshold will also be changed which would give a one-year exemption to some businesses.
A decision on both threshold issues will be made by the middle of the year at the latest, but it will definitely have to be taken before the Finance Bill 2017 is laid in July. There is likely to be more consultation on this particularly complex issue.

Theresa Middleton, HMRC director of Business Customer and Strategy told CCH Daily: ‘We have not included the exemption threshold and deferral threshold as the government has decided that it needs more time to consider these issues, but they will be confirmed before July 2017 when the legislation is laid.’
From next year – 6 April 2018 - businesses, self-employed people and landlords will be required to start using the new digital service. 

The key dates are:
  • April 2018 if profits chargeable to income tax and pay Class 4 national insurance contributions (NICs);
  • April 2019 onwards VAT falls under Making Tax Digital, so anyone registered for VAT will report and pay this through the new system; and
  • April 2020 for corporation tax payers.
Individuals in employment and pensioners will be exempt from digital tax reporting unless they have secondary incomes of more than £10,000 per year from self-employment or property.
It has not been confirmed what the cut-off threshold for larger companies under Making Tax Digital will be as yet, although tax experts are expecting that businesses with annual revenue over £10m and larger partnerships will not be within the scheme as their tax affairs would be too complicated to report in this way.

In the consultation, the government said that it was considering exempting more of the smallest unincorporated businesses from the requirement to keep digital records and report earnings.
 
Larger partnerships with income exceeding £10m are likely to be exempted from Making Tax Digital as their tax affairs would be too complex to report through this system.

It was also considering deferring the mandatory start date of Making Tax Digital (MTD) by one year for the next tier of small unincorporated businesses and landlords with annual incomes of above £10,000, but below a threshold to be determined. Final decisions will be made before legislation is laid later this year.



Changes to your waste service

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Published: 21/08/2017   Last Updated: 22/08/2017 16:03:34   Tags: Haringey, Housing, News, Council, North London, Good To Know


Haringey Council blames cuts for changes 

to waste collection


Haringey Council has defended its approval of changes to the collection service given to residents.
Haringey Council approved changes to Veolia’s waste collection system on June 30.


These changes include charging £25 for four bulky items from July 24; charging £30 for replacement bins from July 31; and, charging £75 for garden waste from October 23 and distributing wheelie bins to those who subscribe.


Councillor Peray Ahmet, Haringey Council cabinet member for the environment, said: “After years of council funding reductions, we still need to find another £20 million of savings across the borough, which unfortunately means making some tough decisions.

“We are committed to delivering a good waste and recycling service and understand this is important for residents.
“These charges will allow us to continue to provide that service while helping us to continue to make budget savings and allow more of our remaining resources to go into other essential areas such as adult social care, libraries and children’s services.”

In an e-petition opposing the implementation of changes located on the Haringey Council website, it is argued that the potential impact contravenes the council’s five-point corporate plan for the period 2015 to 2018.
The e-petition suggests the changes could result in the increase occurrence of fly-tipping, with some residents unwilling to pay the extra charges.

Further counter-arguments to the changes target specific points of the plan.
It is pointed out that with most residents already having more than one bin, increasing the number further will go against point 3 to ‘make our streets, parks and estates clean’.
And, it is argued that increased trips to recycling centres will counter point 4 to ‘reduce emissions across the borough’.

A further dispute is over the amount to be charged for garden waste.
Some boroughs charge between £50 to £60, whereas Haringey residents are to be charged £75.

Haringey residents already pay the eighth highest council tax of 33 London boroughs.

Waste collection company Veolia does offer alternatives to the 240 litre bin for garden waste, but an outreach officer must visit each property before a smaller bin is considered.

There is also dismay at mention of a £30 fee for replacing a lost or stolen bin, and replaced when broken by operatives, which opponents say could be open to interpretation; operatives may not realise they have broken bins on their busy routes.






Child genius from North London

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Published: 20/08/2017   Last Updated: 22/08/2017 17:00:59   Tags: Barnet, News, Information, School, North London

A 12-year-old boy from north London has been named Child Genius 2017


  Rahul, from Barnet, was the last child standing on the Channel 4 show after he swept to a 10-4 victory in a head-to-head final with nine-year-old Ronan.
Cheered on by competitive father Minesh and pharmacist mother Komal, Rahul impressed host Richard Osman with his specialist knowledge of the work of English scientist Edward Jenner in the semi-final.

He clinched the title after answering a question on 19th-century artists William Holman Hunt and John Everett Millais' involvement with the Pre-Raphaelite Brotherhood.

On his win, the youngster said: "I am extremely delighted to win, well done to Ronan and all the other competitors. Thank you."

He was entered into the show by Minesh, an IT manager, who called the win a "phenomenal achievement".
His father had earlier said: "We're a family who are used to winning and doing well in exams and competitions and things."

Rahul captured the imagination of audiences during the competition after he gained full marks in a spelling test and correctly memorised the order of a pack of cards.

He had been expecting to do battle with 11-year-old Joshua but Ronan's knowledge of 1666 London saw him secure a spot in the final.
Both the grand finalists scored 15 in their specialist fields, with Rahul focusing on Edward Jenner's medical innovation and methodology in 
18th-century England.
Joshua, from Staffordshire, came in fourth behind 12-year-old Dylan in third while the only girl to reach the final, Aliyah, 10, placed fifth.







Cashless Parking

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Published: 17/08/2017   Last Updated: 17/08/2017 16:28:12   Tags: Haringey, Housing, Landlords, Tenants, News, Council, North London

Cashless parking

The following has been sent out by Haringey Council:

Our on-street Pay & Display (P&D) machines are up to 20 years old and some are in poor condition with high maintenance costs.  They are also susceptible to cash box theft, vandalism and, on occasions, complete removal.  This has been apparent of late as approximately 50 machines have already been taken out of service as a result of vandalism - or being at risk of vandalism.

Replacing a P&D machine costs up to £5,000 for supply and installation; so replacing damaged machines is costly. This doesn’t include the costs associated with future cash collections and ongoing maintenance. 
On top of this, we have been advised that it would cost nearly £100,000 to convert all of our P&D machines to take the new £1 coin. It is increasingly difficult to justify such expenditure at a time when the Council is experiencing extreme financial pressures and so a decision has been made to move towards cashless parking and commence a programme to phase out P&D machines across the borough and only offer ‘Pay by Phone’ parking. We understand that a number of other London Boroughs are going through the same process.

Pay by Phone parking has been operating successfully in Haringey since 2012 and all our recently introduced CPZ's are already ‘cashless’ (Woodside West, Bounds Green East, White Hart Lane, Bruce Grove East & West). 
Cashless parking payments can be made by using a simple smartphone app, calling a telephone number or by texting the location number, all of which are given on parking signs. An account would need to be set up but this only takes a few minutes and can be done in advance at home. The system offers a wide range of benefits to customers including choice of payment method, reminders that their parking session is about to end and the option of extending their parking session. Users have also said the biggest advantage is not having to carry lots of coins.

We acknowledge that some users may not have access to a smart phone or they may simply prefer to use cash and so we will be introducing a cash payment option via PayPoint. This allows users to pay for their parking session in a PayPoint enabled local shop. A message then gets sent to civil enforcement officers (CEO's) to note that payment has been made for a specific vehicle (the parking session automatically starts and the CEOs handheld will note payment as it would if you were to text or pay for the session using the app). This means that you don’t have to walk back to your vehicle to display a ticket. This PayPoint cash payment system is well established across London.

We have been working with our Communications Department to develop a comms strategy, which will include publishing articles in Haringey People, adverts on street and posting information and guidance on Pay by Phone parking on our website. We will also be engaging with the business community to ensure that they are aware of our intention and reassure them that customers will continue to be able to park locally and conveniently. An advantage of the PayPoint system is that users have to walk into shops to pay for their parking sessions and so this is an obvious way for businesses to generate footfall through their premises.
Some businesses have also asked us if they can pay for their customers parking session and this is something we are working with Pay by Phone develop.

We intend to start decommissioning P&D machines from the beginning of September and hope to complete the programme by 15 October, which is when the old £1 coin will no longer be legal tender.

Further information on cashless parking and setting up a Pay by Phone account can be found at www.paybyphone.co.uk or if you have any questions please contact frontline@haringey.gov.uk

N22 Open Studios

Published: 15/08/2017   Last Updated: 15/08/2017 09:18:10   Tags: Haringey, Art, Creative, News, Council, North London


OPEN STUDIOS

LOVE WOOD GREEN FESTIVAL

Saturday 23 and Sunday 24 September 2017 - 12 noon-6pm

We are putting the artists of Wood Green on the map!
Unbelievably this is the 21st Chocolate Factory N22 Open Studios and this year it’s part of the new Love Wood Green Festival!
The Open Studios map shows 3 studio buildings Chocolate Factory 1, 2 and 3 where over 100 artists are opening their doors. We also have exhibitions of portraits by Michelle Eva May at Karamel, and abstract paintings by Joanna Wilkinson at The Green Rooms in Station Road, Wood Green N22.
The studios in Chocolate Factory 1-3 are home to painters, print-makers, photographers, designer-maker, jewellers, sculptors and ceramists. So, whether you are looking to liven-up your wardrobe or your living space, you need to check out the talent in Wood Green.
Collage Arts, the promoter of the N22 Open Studios and Love Wood Green Festival, has been at the cornerstone of the Wood Green Cultural Quarter for over 30 years. During this time they have created opportunities for thousands or creative people to get established. The latest programs show how diversity has been indelible etched on the ethos.
Making Creativity Work supports young people with a passion for fashion. Create Your Future is working with a group of Kurdish Women to turn their textile skills into enterprises. You can see what they have produced in the market stalls at Studio 28. If you think that the stalls look opulent it is because they will form part of the set for our spectacular Great Gatsby Christmas Party – you will not want to miss that.
Our inclusive programs are central to making Wood Green work for everyone.
Enjoy the Open Studios and Love Wood Green!

Free and family friendly.


Love Wood Green Festival! Featuring the 21st annual N22 Open Studios, studios, stalls, art exhibitions – now part of four days of live music, dance workshops, childrens’ theatre and more. 

Wednesday 20 September to Sunday 24 September 2017.

Start and finish times:
12 noon-6pm

Event contact details:
Tel: 020 8365 7500 | email: info@collage-arts.org

Price details:
Free

Event category:
Advice, jobs and training
Art and crafts
Children and families
Cinema/film
Community events
Food market
Literature
Music
Theatre and dance



Address:
Karamel RestaurantChocolate Factory
4 Coburg Road
Wood Green
N22 6UJ



Marvellous Myddleton

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Published: 14/08/2017   Last Updated: 14/08/2017 16:12:34   Tags: Haringey, Housing, Landlords, Tenants, News, North London

In Victorian times, Myddleton Road – tucked away behind Bowes Park Station – was a bustling terrace of shops, restaurants and homes. Thanks to the fantastic efforts of new independent traders and a strong sense of community spirit, the area is enjoying a renaissance as one of Haringey’s best-loved destinations, drawing visitors from across the borough and beyond. Local traders – such as independent bar the Step, Greek grocery Hellenic Gourmet and Italian deli La Coppia – have taken care to preserve the street’s character while making improvements, and the Myddleton Road Community gardens are a haven of calm at the centre of the area. Now a local artist has captured Myddleton’s special heritage through two beautiful 7.3 metre-long panorama artworks – using traditional techniques to capture the street for future generations. Gabriela Schutz’s ‘A Walk in Myddleton Road’ – on display at Bruce Castle Museum until late October – is an installation of two drawing panoramas that record Myddleton Road and a third drawing of the New River, which flows openly near the street. The panoramic format was popular in the 19th century, when people would go to see huge immersive panoramas of landscapes and historical events in a kind of early version of 3D cinema. Gabriela said: “The panoramas of Myddleton Road represent many walks in the road. Hopefully they will serve as an historical document of the street as it was in 2016/17. “Drawing the street, rather than viewing via Google Earth or Streetview, is about slowing down and looking properly at things – and that is true for myself, the artist, and for the viewer. “These days we spend so much time on our phones, exchanging information and communicating with distant people – yet at the same time being by ourselves. It is the personal and physical connection with a place which is the heart of this project. It is about being part of a local community and engaging with reality. “Drawing is a way of observing the world and being totally present. I have been intrigued by the changing architectural styles along the street, by the shop fronts representing different periods of time, diverse cultures and distinct aesthetic tastes.” 
www.haringey.gov.uk/brucecastle www.gabrielaschutz.com

Haringey - Biggest annual house price gains

Published: 01/08/2017   Last Updated: 15/08/2017 09:20:54   Tags: London, Haringey, Property, House Price, Landlord, News


London house prices:

Haringey enjoys biggest annual house price gains while Islington named the biggest faller


Sales of London homes to the end of April were 29 per cent lower than the same period last year, according to Your Move’s latest England and Wales house price index.
House prices in the capital continued to rise, up 2.7 per cent in the year to April 2017, but this is the second lowest annual rise seen in London since March 2012. The average house price in London at the end of April stood at £615,838, up 0.1 per cent on the month before.

Haringey was named the best performing borough, with house prices up 12.5 per cent annually thanks to an increase in prices of flats. In contrast, Islington was the worst performer with house prices down 10.4 per cent following a surge in sales of terraced houses ahead of the three per cent stamp duty surcharge on second homes introduced last year.
The index also found that prime property in the capital registered strong growth on an annual basis.

Kensington and Chelsea, where average prices stand at £1.9m, enjoyed annual growth of 8.8 per cent while house prices in the the City of Westminster rose by 9.7 per cent. Meanwhile, the City of London saw the biggest monthly increase up 9.6 per cent to £998,709.

Meanwhile, average house prices in England and Wales during May reached new peak of £303,200 despite "General Election uncertainty", Your Move said.
Transactions in the north east (up 10 per cent), North West (six per cent), Yorkshire and Humberside (seven per cent), East Midlands (four per cent), West Midlands (six per cent) and Wales (13 per cent) are all higher in the three months to the end of April 2017 than the same period in 2015.

Meanwhile, transactions in greater London and the south east are down by 19 per cent and seven per cent respectively.
Oliver Blake, managing director of Your Move and Reeds Rains estate agents, said: “There was a lot of talk about housing from the parties in their election manifestos, it’s now time for those words to be put into action.
“The market remains resilient and there’s encouraging activity in the north, but we need to urgently address the serious blockages in house building holding back labour mobility and economic competitiveness in too many areas of the country.”

RANKLONDON BOROUGHApr-16 (£)Mar-17 (£)Apr-17(£)Monthly changeAnnual change
1KENSINGTON AND CHELSEA£1.83m£1.95m£1.99m2.1 per cent8.8 per cent
2CITY OF WESTMINSTER£1.62m£1.75m£1.77m1.1 per cent9.7 per cent
3CAMDEN£1.03m£1,03m£1.07m3.5 per cent3.5 per cent
4CITY OF LONDON£978,300£911,046£998,7099.6 per cent2.1 per cent
5HAMMERSMITH AND FULHAM£924,728£870,635£850,121-2.4 per cent-8.1 per cent
6RICHMOND UPON THAMES£787,671£759,416£768,3011.2 per cent-2.5 per cent
7WANDSWORTH£779,290£776,782£765,262-1.5 per cent-1.8 per cent
8ISLINGTON£793,998£726,011£711,374-2 per cent-10.4 per cent
9BARNET£638,817£649,619£672,4273.5 per cent5.3 per cent
10HARINGEY£574,186£647,189£645,872-0.2 per cent12.5 per cent
11MERTON£628,355£625,435£641,7542.6 per cent2.1 per cent
12SOUTHWARK£646,663£652,751£623,206-4.5 per cent-3.6 per cent
13LAMBETH£593,444£599,002£598,081-0.2 per cent0.8 per cent
14BRENT£550,006£569,111£583,6122.5 per cent6.1 per cent
15HACKNEY£592,321£577,075£571,739-0.9 per cent-3.5 per cent
16EALING£527,086£562,858£558,959-0.7 per cent6 per cent
17KINGSTON UPON THAMES£565,193£536,596£538,0360.3 per cent-4.8 per cent
18HOUNSLOW£507,108£527,306£535,5691.6 per cent5.6 per cent
19HARROW£495,212£539,875£528,555-2.1 per cent6.7 per cent
20TOWER HAMLETS£485,493£541,603£521,627-3.7 per cent7.4 per cent
21BROMLEY£469,537£486,981£493,6601.4 per cent5.1 per cent
22ENFIELD£444,711£469,098£472,2200.7 per cent6.2 per cent
23HILLINGDON£450,907£462,411£462,014-0.1 per cent2.5 per cent
24WALTHAM FOREST£434,126£455,296£452,757-0.6 per cent4.3 per cent
25LEWISHAM£447,725£451,719£451,8380.0 per cent0.9 per cent
26REDBRIDGE£420,450£445,638£449,0660.8 per cent6.8 per cent
27GREENWICH£439,019£431,684£420,661-2.6 per cent-4.2 per cent
28SUTTON£398,310£399,118£404,9361.5 per cent1.7 per cent
29CROYDON£377,330£397,070£393,490-0.9 per cent4.3 per cent
30HAVERING£352,493£375,895£377,2910.4 per cent7 per cent
31NEWHAM£361,310£373,505£365,573-2.1 per cent1.2 per cent
32BEXLEY£338,756£353,308£352,643-0.2 per cent4.1 per cent
33BARKING AND DAGENHAM£289,577£297,827£298,2240.1 per cent3 per cent

ALL LONDON599,661614,971615,8380.1 per cent2.7 per cent





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Haringey Housing sell-off

Published: 25/07/2017   Last Updated: 25/07/2017 16:33:43   Tags: Haringey, Housing, Landlords, Tenants, News, Council, North London

Labour MPs urge Haringey council 

to rethink housing sell-off 


North London MPs David Lammy and Catherine West call for pause in £2bn plan, amid fears residents could be forced out
                                                                                                       
                                                                                                     Housing in Haringey     
                                                                                         
Housing in Haringey, where the council is planning the biggest sell-off of its kind ever. Photograph: Alamy Stock Photo 

Two Labour MPs have made a dramatic last-minute intervention in a London council’s plans to privatise £2bn of council houses, public buildings and land.
Under the scheme, public assets will be transferred into a new company, the Haringey Development Vehicle (HDV), owned 50/50 by Haringey council and private firm Lendlease, in a deal set to last 20 years.
On Monday evening, the Labour-run council will vote on the largest sell-off of its kind ever undertaken by a UK local authority. But earlier in the day, two local north London MPs sent the council’s leader, Claire Kober, a strongly worded letter.
David Lammy, for Tottenham, and Catherine West, for Hornsey and Wood Green, reiterated concerns that include the affordability of the homes, the bidding process, the financial risks to the council and the lack of oversight.
Their intervention came as protesters planned to march peacefully on Haringey Civic Centre in Wood Green on Monday evening.
The letter reads: “In addition to reiterating these concerns, in light of the fire at Grenfell Tower we write today with the utmost urgency to urge caution and call on the cabinet to pause and reflect further on whether entering into a public-private partnership is the correct decision for the borough and its residents.
“In our view no decision should be taken on the HDV until a fully updated business case is evaluated and further work is carried out by an external adviser or auditor to analyse and review the risks relating to the HDV.”

Kober wrote back to Lammy and West, saying the HDV proposal had been debated three times by the Haringey Labour group and on each occasion it had agreed to move forward.
“It is therefore the clear policy of the group to support the HDV and pursue this as an opportunity to deliver thousands of desperately needed new homes and jobs in Haringey,” she wrote.
Kober said the issues raised by the disaster at Grenfell Tower did not justify “reneging” on the local manifesto pledges to build new homes. “The Haringey Development Vehicle – a 50/50 partnership between the council and developers Lendlease – is an innovative approach to regeneration that will deliver change local people can benefit from,” she added.
The council plans to demolish whole streets of publicly owned buildings as part of a vast regeneration project in which 6,400 new homes will be built.

Local councillors estimate that up to 20 Labour councillors, out of 49 in total, oppose the scheme, as well as all Lib Dem members, the two constituency Labour parties, plus trade unions and a number of local activist groups. The council’s scrutiny committee has twice in the past six months called for an immediate pause to the plans.
The MPs urged the council to consider a recommendation by the authority’s overview and scrutiny committee to use a wholly council-owned housing company to purchase and manage the HDV social and affordable homes “to ensure that there will be no overall reduction in the number of homes in the borough that are wholly owned and managed by the council”.
Public-private partnerships have come under increased scrutiny in recent weeks in the wake of the Grenfell Tower blaze.






HMO - changing law

Published: 21/06/2017   Last Updated: 21/06/2017 14:55:56   Tags: HMO, Landlord News, Law, Council, Government, Legislation


THE CHANGING LAW AND VALUATION GUIDANCE FOR HMOs
Andrew Wells


Following a consultation period last year, the Government plans to extend the scope of mandatory licensing of houses in multiple occupation - known as HMOs - later this year. Under the new HMO licensing proposals, the existing ‘three storey rule’ may be scrapped so that all properties will require a licence if they are occupied by five of more people from two or more households. In addition, flats above and below commercial premises will also need to be licensed.

LONDON'S NEXT GREAT NEIGHBOURHOOD

Published: 19/06/2017   Last Updated: 21/06/2017 14:39:52   Tags: London, Tottenham Hale, News, Haringay

Tottenham Hale is to be London's next great neighbourhood - a bustling new centre with an uinternational transport hub, residnetial quarter and thousands of new job opportunities. In this section you will find out about Haringey Council's plan to create a new centre for Tottenham Hale, deliver new housing and improve streets, and green and open spaces.

Important announcement - CMP

Published: 10/05/2017   Last Updated: 24/05/2017 16:19:46   Tags: CMP, Client Money Protection, Landlord News, Property Obmudsman

  


IMPORTANT ANNOUNCEMENT


* PRESS RELEASE *

Date of issue: 10th of May 2017

Housing Minister supports Government report which calls for new measures to protect rental money
Paul Simon Estate Agents takes on new CMP cover to safeguard the money they handle for landlord and tenants in
London and surrounding areas.

Letting agents across the country will soon be required to protect rental monies through an approved Client Money Protection (CMP) scheme, following the recommendations made in a new Government report.

Paul Simon Estate Agents is already offering local landlords and tenants in London and surrounding areas enhanced levels of protection to safeguard to protect rental income from fraud and unlawful use.
Letting agents play a crucial role in passing on rental payments from the tenant to their landlord but there is currently no legal requirement for letting agents to take out any insurance to protect the rental money they handle.
The Housing Minister has responded to a parliamentary review of CMP and supported its recommendations to make CMP mandatory for agents in England that handle client money.
The report estimates that letting agents currently hold approximately £2.7 billion in client funds but found that very few landlords or tenants are aware of CMP and how it safeguards rental money if an agent goes bankrupt or attempts to use client funds fraudulently.

Paul Simon Estate Agents can now offer its landlords and tenants complete piece of mind that any client funds held by the branch is insured through a new Client Money Protection (CMP) insurance policy, which goes above and beyond current legal requirements to safeguard client funds.
The move has been praised by The Property Ombudsman (TPO) scheme, which provides a free, fair and impartial dispute resolution service to protect consumers from unfair practices and raise standards in the property industry.
The Government launched an official review into CMP in August 2016[1] to decide whether it should become a legal requirement for every letting agent to have CMP cover. As part of this review, TPO agreed to carry nationwide survey, which found just 11% of landlords ask how their rental money will be handled.

Gerry Fitzjohn, TPO’s Vice Chairman, said: “While there is legislation in place for agents to protect a tenant’s deposit by registering it with a government-backed protection scheme, there is no legal requirement to safeguard rental income and ensure the agent passes on a tenant’s rent to their landlord.  

“It is essential that landlords and tenants only use agents that have CMP cover or a method that guarantees the rent collected by their agent is covered against fraud and unlawful use. I would always urge consumers to check the credentials of their agent to ensure their deposits and renal money is protected, and the firm is registered with TPO should a dispute arise.”


[1] Government Client Money Protection (CMP) review: https://www.gov.uk/government/consultations/client-money-protection-cmp-review

Night Tube

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Published: 12/03/2017   Last Updated: 21/06/2017 14:40:30   Tags: Transport Info, Property News

New TAX Regime for landlords

Published: 01/03/2017   Last Updated: 21/06/2017 14:40:16   Tags: Government Legislation Changes, Landlord News, Property News

George Osborne unveiled a shock tax change in 2015: the tax relief that landlords get for finance costs will be restricted to the basic rate of Income Tax. To put it another way, the current rules give most landlords a 40% discount on their current interest costs, but under the new regime, this discount will drop to 20%. This tax change will be phased in from will start to be phased in from 6th April this year and fully implemented by 2021.


There’s no doubt these changes will makes things more difficult for landlords, but the first thing to note is that landlords who are basic rate tax payers (earning less than about £40k), or those without a mortgage, won’t be affected at all.


Secondly, there are steps landlords can take to try and cut their interest costs. The first being re-mortgaging. Buy-to-let mortgage interest rates have fallen significantly in recent years, so deals currently on the market may well be substantially better than on products arranged a few years ago.


With large increases in property prices in London, another tip is to get your rental property re-valued. This will make your lender recalculate your LTV, and a lower LTV means a better interest rate and a larger choice of lenders.

Biggest house price rises will be in Zone 3 outwards

image

Published: 24/02/2017   Last Updated: 27/03/2017 14:14:59   Tags: House Prices, Property News, Investment Opportunities, Landlord News

Though we believe that prices will soften in prime central London, we still expect certain hotspots to experience price growth - though perhaps not at the level we’ve seen in previous years.


If it’s an investment you’re after, it’s crucial you buy in areas that are undergoing gentrification or experiencing infrastructure investment, that offer healthy yields so mortgage repayments aren’t a problem.


Areas in the outer Zones are likely to experience the best price growth this year. Zone 5’s East Croydon is becoming the capital’s next big property hotspot. It’s currently undergoing huge development, offers key train links and the Gatwick Express, Westfield Shopping centre will soon be arriving, plus it offers a mix of luxury and affordable living ideal for young professionals.


Crossrail winner Forest Gate is also likely to experience further gentrification when the high-speed rail link arrives this year, which will keep house prices on their upward climb. Leyton is another east London pocket tipped for house price growth, and in fact, east London as a whole will be one of the best investment areas generally this year down to improving transport links and the fact that prices here are still “affordable” compared with the rest of the capital.


If you want to invest centrally, Farringdon is a safe bet, again thanks to key infrastructure changes such as Crossrail and the fact that the nearby silicone roundabout is becoming a great area in which to live, work and play.

Is Tottenham becoming the new Shoreditch?

Published: 24/02/2017   Last Updated: 27/03/2017 14:15:04   Tags: Investment Opportunities, Landlord News, Property News


 

An art installation in Tottenham's Markfield Park


The times they are a-changing. Slowly. When you emerge at ground level using the north stairwell of Seven Sisters Tube station, you are greeted by the sight of a popular coffee franchise and an equally well-to-do supermarket. A little further up the High Road, towards the nest of shops and traffic congestion that is Bruce Grove, an estate agents – of the type which deals in affluent city-dwellers and families seeking to up-size without necessarily leaving the conurbation – has set up stall.


Further on still, at number 639, the Blooming Scent Café sings softly of organic teas and a licensed bar with a range of wines by the glass. Quietly confident, it is affiliated to the Bernie Grant Arts Centre, the cultural complex next to the Town Hall, which boasts a cinema and a superb 274-seat auditorium.


Wander, and you will find further notes of intrigue. Meander east towards Tottenham Hale and you might stumble into Craving Coffee, one of those artful dens of caffeine where your latte comes with a froth-top doodle – of a flower, a tree, a bird, a fish. You might also come across Beavertown Brewery, where the context is Lockwood Industrial Park on Mill Mead Road, but the ales produced within have more in common with the craft-beer scenes in hip American cities like Portland and Seattle. And after a drink or two in the tap room, you might drift back towards the High Road, following your nose towards the aromas pouring out of Chicken Town – an eatery where the name suggest a greasy takeaway, but the blurb on the menu states that “we use happy herb-fed chickens, which we gently steam before flash-frying in rapeseed oil for a delicious, healthier treat.”


At the end of all this, you might wipe your mouth and ask if you really are in Tottenham – and not Shoreditch, Hoxton, Dalston, or some other newly gentrified part of the capital.


The 12th richest football club on the planet lies at the heart of this historically deprived district.


It has been a slow journey for an often unloved segment of the metropolis. And, in truth, it is a march which still has some way to go.


The new stadium will hold 61,000 people and generate a projected £293 million a year for the local economy CREDIT: TOTTENHAM HOTSPUR


At the centre of all this is a contradiction. The vast hulking presence of a Premier League football club. Plenty might argue that Tottenham Hotspur is bigger in reputation than it is in achievement – for all the fine players to have graced its pitch, Glenn Hoddle’s feet a pair of magician’s wands; David Ginola moving with long-haired lyrical grace – the club has just two league titles to its name (1951, 1961), and has failed to crest the summit of the English game in the monied Premier League era (which began in 1992). But it is definitely sizeable in wealth. The latest Deloitte figures, released earlier this month, rank it as the 12thrichest football club on the planet – with an annual turnover of £209million.


Spurs hope the stadium will be a destination beyond football .


There is always something a little unsettling about a major sporting institution, flush with cash, radiating its good fortune from within an area rather shorter on readies. But Spurs – to use the club’s popular nickname – is far from a lone case in this. And the club would be swift to argue that its White Hart Lane stadium has long been good for Tottenham, bringing some 36,000 supporters into the area every fortnight during the season – fans whose disposable income is funnelled into the district’s pubs, bars, cafes and newsagents.


As of next year, that relationship will broaden. The club has played at White Hart Lane since 1899 – but although it has rebuilt it several times during that period, it has now outgrown its mid-range capacity (Tottenham’s nearest neighbours and arch-rivals Arsenal upgraded to their own 60,000-seat arena in 2006). So from August 2018, the team will run out at a new, state-of-the-art stadium capable of holding 61,000 people. It will be revolutionary for Spurs, more than doubling its match-day income. But it will also be a boon for Tottenham – generating a projected £293 million a year for the local economy.

There are hopes the stadium will boost the local economy


That, at least, is the hope. Up on the fourth floor of Lilywhite House, the club’s pristine new offices, executive director Donna-Maria Cullen is talking in glowing terms. “‘Game-changer’ is an overused word. But for Tottenham, this really is,” she enthuses. “The stadium will be a new sport and entertainment destination for London – and for Europe.”


The "Tunnel Club" will offer a close glimpse of the team

Beyond the window, the arena in question is now taking shape. Indeed, the north-east corner of White Hart Lane has already been dismantled to allow construction crews better access to the building site – as the rush to have the project completed in time for the 2018-2019 season intensifies. Colossal concrete support blocks rear above the pavement, cranes peck at the skyline, and the hard sound of industrial drills is a constant cacophony.


Once completed, the stadium will be more than just a sporting cauldron. It will have a hotel and a museum. It will be adorned with extra touches – a “public square” on the concourse with room for food stalls and events; an in-house microbrewery capable of dispensing up to 10,000 pints per minute; a “Sky Walk” climbing wall which will allow visitors to clamber 40 metres up the exterior of the complex. And the club has grand designs for it to be a year-round music venue which will occupy the space in the London mega-gigs market that exists between Wembley Stadium and the O2. “Wembley Stadium is fine if you are Muse, Coldplay or U2,” Cullen explains. “But there is a gap down to the O2, which holds around 20,000 people – and we are hoping that the stadium will fill it.”


Then there is the match-day experience, and the not-so-small matter of corporate entertainment – which, nowadays, is such a crucial element of any sporting behemoth’s balance sheet. An innovative blueprint will see accoutrements such as “The H Club”, a members’ space supplying high-end cuisine and chef’s table dinners. And the “Tunnel Club”, a first of its kind in the UK where “premium” guests will be able to watch the players waiting in the tunnel before kick-off – an intriguing piece of 21st century fan culture which, thanks to one-way mirrored glass, will not disturb the team’s preparations.


Throw in the fact that the arena will also host American Football matches – a contract is in place for Spurs to stage two NFL fixtures a year for a decade, via a special artificial pitch below the main (retractable) playing surface – and the club coffers are set to jingle.


This is all well and good – but will it really bring anything to the area beyond the roar of bigger crowds? Cullen is adamant that it will – and gestures downwards, towards the base of Lilywhite House, where Tottenham University Technical College, which opened in September 2014, takes up most of the ground floor (with the London Academy of Excellence Tottenham (LAET), a sixth-form college, due to launch in September). “The stadium will be responsible for 3,700 jobs, of which 1,700 will be totally new,” she adds.


Back on the High Road, opposite the rising pile of stone, reinforced metal and men in high-visibility jackets, nothing much is stirring. The fledgling wave of renewal has yet to reach this far up the thoroughfare, and the one customer in Chick King is buying his dinner in a fast-food outlet that shares a meat, but little else, with cool kid Chicken Town. Tottenham is still far from being an unmissable destination for those seeking to explore further corners of London – but come the summer of 2018, seven years after the area was fractiously ablaze, it will find itself in the headlines, and on the map, for the right reasons.


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