More Houses Purchased

ACLT has now  exchanged contracts on the purchase of a further two  affordable homes on the newly built Swallows Gate development in Dappers Lane, Angmering.

These houses comprise 1 x 2 bed property for shared ownership and a 3 bed property for rental.

These properties have already been allocated to local residents in accordance with our Housing Allocation Policy and will be occupied in due course.

Three new homes purchased

On Wednesday 9th March 2022, following a long period of delay caused by Covid together with significant financial challenges, ACLT has finally exchanged contracts on the purchase of three affordable homes on the newly built Swallows Gate development in Dappers Lane, Angmering.
These well-specified houses comprise 2 x 2 bed properties and are for rental and the 3 bed property is for Shared Ownership. These properties have already been allocated in accordance with our Housing Allocation Policy and will be occupied in due course.

ACLT (Registration number 8781) becomes a Charitable Company

Earlier this year, two Special General Meetings were held by ACLT for members to approve a resolution to convert to a Charitable Company,
This application has now been approved by HM Revenue & Customs and we are now recognised as a charity for tax purposes.
In practical terms, this means that we can avoid Stamp Duty Land Tax and Corporation Tax on our acquisitions and developments. This in turn will help to ensure a greater percentage of our funds are used to keep rents affordable.
We will remain under the Financial Conduct Authority for regulatory purposes.

Special General Meetings

Angmering Community Land Trust is convening two Special General Meetings this month in order to restructure its status as a Community Benefit Society.

If Shareholders approve the resolutions, it will allow ACLT to transition from its current form to a new charitable Community Benefit Society that is exempt from most taxation. These taxes are currently impacting on the viability of our projects at Mayflower Way and Swallows Gate.

The new charitable Community Benefit Society has already been created and if Shareholders approve the resolutions, it will allow all the current assets held by ACLT to be transferred to the new society. Once the transfer is complete, the Financial Conduct Authority has indicated that the new society may also be called Angmering Community Land Trust with the formers registration being cancelled.

All current members of ACLT will automatically become members of the new charitable society should the resolution be passed.