Mark Smith (Barrister-At-Law)

Registered with Property118.com
Wednesday 27th November 2013


Latest Comments

Total Number of Property118 Comments: 201

Mark Smith (Barrister-At-Law)

10:45 AM, 1st October 2018
About 2 weeks ago

What Does "Washing Out CGT On Incorporation" Actually Mean?

Dear David,

Thanks for this input.
S.165 is potentially available, but we have not advised its use for our clients. The main reason is that the properties would be on the company balance sheet at MV minus held-over gain, meaning that a sale from the company would attract Corporation Tax on the full value of the gain.... Read More

Mark Smith (Barrister-At-Law)

14:20 PM, 11th July 2018
About 3 months ago

Approached by compensation firm about Mortgage Securitisation?

This 'test' case is still very much on the rails, but is working its way through the courts. We can update when matters are in the public domain.... Read More

Mark Smith (Barrister-At-Law)

11:01 AM, 1st June 2018
About 5 months ago

Court action for repossession following probate?

In addition, you can ask the court to adjourn the case and give you time to refinance under s.36 Administration of Justice Act 1970
"36 Additional powers of court in action by mortgagee for possession of dwelling-house.
(1)Where the mortgagee under a mortgage of land which consists of or includes a dwelling-house brings an action in which he claims possession of the mortgaged property, not being an action for foreclosure in which a claim for possession of the mortgaged property is also made, the court may exercise any of the powers conferred on it by subsection (2) below if it appears to the court that in the event of its exercising the power the mortgagor is likely to be able within a reasonable period to pay any sums due under the mortgage or to remedy a default consisting of a breach of any other obligation arising under or by virtue of the mortgage.
(2)The court—
(a)may adjourn the proceedings, or
(b)on giving judgment, or making an order, for delivery of possession of the mortgaged property, or at any time before the execution of such judgment or order, may—
(i)stay or suspend execution of the judgment or order, or
(ii)postpone the date for delivery of possession,for such period or periods as the court thinks reasonable.
(3)Any such adjournment, stay, suspension or postponement as is referred to in subsection (2) above may be made subject to such conditions with regard to payment by the mortgagor of any sum secured by the mortgage or the remedying of any default as the court thinks fit".

I am sure the court would give you time to get the refinancing in place in a proper manner, given your conduct to date... Read More

Mark Smith (Barrister-At-Law)

9:52 AM, 13th April 2018
About 6 months ago

CGT 30 day payment on account - HMRC consultation

Companies do not pay CGT. Another reason to consider incorporation... Read More

Mark Smith (Barrister-At-Law)

15:02 PM, 12th April 2018
About 6 months ago

Approached by compensation firm about Mortgage Securitisation?

Update:
I am now instructed in a case where Legal Quest is a consulting expert witness. I may also be instructed as one of a team of counsel to give opinions on the legal merits/demerits of the various securitisation models that there are. Suffice to say that there seems to me to be more 'legs' in this than was first thought. Subject to receiving client permission I will update here if there is any meaningful progress.... Read More