Registered with
Tuesday 22nd May 2018

Trading Status
Sole Owner

Providing essential rental accommodation since

Number of rental properties owned
0 - 5

Insures properties through a broker recommended by Property118

Latest Comments

Total Number of Property118 Comments: 325


8:48 AM, 27th November 2020
About 4 days ago

Spain has abandoned any pretence of respecting private property rights

Reply to the comment left by TrevL at 23/11/2020 - 18:20
TrevL is correct: Millions of people have had their lives ruined as a consequence of the response to the Covid-19 pandemic. It wasn't the virus that did it. It was the response.

There was a great programme on last night about the Spanish flu pandemic of the 1st world war and just after. The programme said that the reason it was called Spanish flu was because coverage in the press in places like the UK was suppressed, but the Spanish press talked openly about it.

What was interesting about the programme for me was that they seemed to be trying to compare the programme to the recent Covid-19 outbreak. They did make the point that Covid-19 is a different disease. "Spanish" flu killed millions. If you look at the data Pfizer recently produced only 94 cases of illness occurred in a trial involving more than 43,000 participants. Covid-19 kills a tiny number of people compared to flu.

The programme last night was good in some respects. They linked the disease to overcrowded troop ships, overcrowded slums in Manchester, overcrowded troop camps. Most respiratory diseases are diseases of overcrowding and you'd probably find that locking people in buildings under overcrowded conditions particularly where you have several generations of people living together would make the situation worse; it is what we would predict from everything we knew even before Covid-19. And that's probably what they'll find when they analyse the data.

They'll probably find that of the ~50,000 people who have died so far, sadly a proportion would have died anyway. Many of the others will have come from areas of overcrowding. Places where the parks were shut down and there was nowhere else to be but stuck indoors breathing other people's stale air. In the programme they identified the source of the outbreak as a soldier in a camp in America. Somebody wanted to shut the camp down to stop the virus spreading.

For me the programme missed something. That is that by the time the GP sentinel practices picked up Covid-19 it was already all over the country; it was already out, spreading, everywhere. It was already too late. Just like the Spanish flu pandemic it was too late to lock everywhere down. It wasn't going to work.

So the response has cost more money than we have ever seen in peacetime. And it is ruining the lives of millions. We are going to see a lot more destitute people unless policy changes.

The fact that there is now an Astra Zeneca vaccine is a cause for rejoicing. I hope that NICE approves it. Even if it isn't 100% effective it will achieve something just by alleviating some of the fear. I went out to Indonesia a couple of decades ago and before I went I had to have a cholera vaccine. I was joking with the GP and said, "...cholera vaccine is only about 50% effective." He was joking back and said, " a cholera outbreak 50% effective is better than nothing." It was a joke but it was right. It's not just a question that 70% effective would be enough, it would be good. Get on and approve it NICE.

The big problem now is the debt and where the government is going to go to try and fix the problem without causing the flight of capital. Spain has always been a bit dodgy. Portugal historically has been better.

What the government needs to do now is make sure that the UK is a good place not just to be employed, but also to be self-employed. In the wake of the last crash the growth in new jobs came from the small business sector.

Right now the small business sector is being totally stuffed and that's a bigger issue for landlords than a small number of people they can't evict right now.... Read More


12:23 PM, 6th November 2020
About 4 weeks ago

I am a 40% taxpayer and my partner 0%

As well as incorporation I also suggest you google the pros and cons of holding a property as joint tenants or tenants in common in different share proportions, and check what it says about it in the HMRC guides on, then check your options with your solicitor.... Read More


10:00 AM, 5th November 2020
About 4 weeks ago

QE increased by £150 billion and Bank Base Rate held at 0.1%

These are interesting assumptions.

But as we leave the EU, the economy is only going to pick up if the chancellor makes the UK an attractive place to run a business, particularly an internet business, employ people or provide employment for self-employed people and have a pension. The chancellor also needs to make the UK a place where people have the confidence to spend their pensions, if he actually wants the hospitality sector to employ people; people need the time, the money and the confidence to "eat out to help out" and keep doing it.... Read More


13:57 PM, 2nd November 2020
About 4 weeks ago

Golden Visa Opportunities: The Top 10 Interesting Programs

Reply to the comment left by at 02/11/2020 - 12:48
My business is a small IT business. I'm UK-based and I've never worried much about going abroad because up until recently entrepreneur's relief was set at 10% for up to 10 million pounds per individual. You could also mitigate against excessive tax charges by paying into your pension. But you have to avoid the lifetime allowance and avoid paying more into your pension than your annual allowance, otherwise you are penalised.

As soon as IT businesses get to any significant size they end up competing with business from Ireland and elsewhere who pay a tiny fraction of the Corporation Tax we pay in the UK; so they go to Ireland, or perhaps Spain. So yes, I know people who have done this and were doing it a decade ago.

With respect to BTL property, it might be possible to avoid CGT by incorporating, and it might be possible to avoid paying excessive tax by paying from your company into your pension. Whether you could would depend on your age and circumstances. I've worked in other countries in Europe, I've worked in UK and New Zealand. I could move my pension, if not my property; but my property is managed by an agent so I could still manage to work offshore.

The big difference now is what just happened: Before Covid 19 I could have largely run my business from my desk. But customers and suppliers would still want to see us face to face so we would drive over and see them. *NOW* customers still want to do business but are *refusing* face to face meetings when previously they used to *ask* for them. The IT suppliers we used always were happy to do business online.

I actually had this discussion with my business partner last week; we discussed the fact that we could now run our business from somewhere in the sun, or near the snow. Now it would not be a problem because Covid-19 has brought a cultural shift in the way we do business.

Since Covid-19 more people are buying from Amazon and elsewhere than ever before. Businesses like Amazon always did use countries like Ireland or Luxembourg to pay less tax. Since Covid-19 though the service economy has started to move online. Lawyers consult on line. Accountants do. We do our accounts through Xero. Our accountants do not need to be in the UK. We use Stripe. We can take payment anywhere.

Sean Connery who just died was a famous SNP supporter. He was also famously one of those rockstars and film stars who like the Rolling Stones decided to take their assets and income offshore in the 1970s to escape the then Labour government's punitive tax regime. The difference now is that it is not just film stars that can do this. Minor TV celebrities have been doing it for years. The IT industry has been doing it for years but now, since Covid-19, we all accept and use systems that would allow many small businesses to take their businesses to the sun.

We always used to be able to rely on Labour governments to stimulate the flight of capital. Now the lines seem to be being blurred. The chancellor needs to wake up. This is the best time ever to leave the European Union. This is because all the prophets of doom who said that the economy would tank, and were wrong, will not be able to say that the decline in our economy (there will be some downward pressure but it will be minor) was due to Brexit. Brexit is an irrelevance compared to Covid. But the big thing is the cultural shift to doing business online.

The solution to your CGT problem is probably already now somebody who is operating offshore.... Read More


8:38 AM, 2nd November 2020
About 4 weeks ago

Golden Visa Opportunities: The Top 10 Interesting Programs

Reply to the comment left by Olls63 at 31/10/2020 - 09:12
Presumably though you could just transfer the properties into a limited company before you went. Or perhaps own the property partly in your own name and partly in the name of a limited company. Whether that should be as joint tenants or tenants in common I wouldn't know. Or perhaps if it was a small portfolio and you were married, own the properties jointly with your wife with one of you domiciled in the UK and one abroad.... Read More