James Tuttiett, owner of the ground rent fund E&J Capital Partners, yesterday showed a fine sense of civic engagement with the political process by giving £8,500 to the Conservative party.
The donation comes from his entity Ashcorn Estates Limited, with assets just under £6 million, of which the two directors are James Tuttiett and Amelia Jane Tuttiett.
The Conservative party is pledged – three times so far – to set new ground rents to zero.
James Tuttiett was lampooned by The Sun as one of the property “fat cats” benefiting from doubling ground rents in the homes of ordinary families.
The Sun attacks ‘fatcat’ housebuilders with inflated fortunes thanks to Help To Buy
Ground rents and freehold ‘investment ‘ in general are a typical example of the sort of businesses that should be taxed into oblivion. The buildings are poorly run more often than not, they offer nothing, but they do fleece ordinary working people who pay taxes. Adding insult to injury, many freehold ‘investors’ are mysterious off shore entities and conveniently out of reach. No other country has this system. When are the Brits going to wake up?