Tim Rogers

Registered with Property118.com
Saturday 18th November 2017

Trading Status
Company

Insures properties through a broker recommended by Property118
No


Latest Comments

Total Number of Property118 Comments: 12

Tim Rogers

6 days ago
Rents or equity?

Given that approximately half your portfolio is in personal names and you are in your 70's, I would view your decision process with inheritance tax in mind, if you have not made provision already.... Read More

Tim Rogers

2 months ago
Return on Investment or Capital Employed Formula?

I'm somewhat more simplistic in my approach. Add up all the costs of the purchase. Add up the total rental minus any regular costs, (block maintenance payments, insurance, gas / electric safety / service). I don't particularly concern myself with how the finance is split, provided your not going into the negative ie mortgage payments greater than rental , (15% profit after mortgage is a nice target)

If the percentage figure of rental / costs is above 5% then it's viable, above 7% is the target and anything over is a bonus.

If you own the property over a long time frame you need to decide if your going to keep working the cost figures on the purchase price or the current market value, always factoring the ancillary costs surveys, legal, stamp etc...... Read More

Tim Rogers

2 months ago
Ltd Company interest on Directors loan?

I believe there is another possibility. The company owes you personally a debt of some £375k. This can be repaid over time without attracting personal tax. Once you have made the company deductions and paid corporation tax the remainder can come to you tax free.

With an income of some £30k you'd be looking at 22-25k pa.
Your personal tax allowance would be taken up by the 12k from the other properties.

If you outlive the debt repayment period, some 15-20 years, you can take a revenue stream as allowed by the tax rules at that time. Only you can decide if the benefits outweigh the 'loss' of interest, but as it is all the same money pot.......... Read More

Tim Rogers

4 months ago
Sold property but still being chased for council tax!

Councils are seeking money from every place possible. The cleanest route is to supply documentation of the sale and it's date.

However, document every person and time you deal with the council and back any phone call with a registered, ( not recorded), letter. Do NOT trust them to keep accurate or correct records.... Read More

Tim Rogers

5 months ago
Extortion to pay their own management company!

On a much smaller scale we had similar problems. It took 18 months but we eventually forced the sale of the freehold to our own company.

However during the course of this I came across a tribunal process that may help you. As I understand it costs allocated by the freeholders and/or their agents must be reasonable. In the even this is not so then under the 2007 Tribunals, Courts & enforcement act you can apply to the First-Tier Tribunal and if necessary the Upper Tribunal for independent assessment.

We did not need to pursue this course as we were able to force the freehold sale, so I know little more I'm afraid.

T... Read More