Mic Singh

Registered with Property118.com
Wednesday 18th December 2013


Latest Comments

Total Number of Property118 Comments: 11

Mic Singh

21:46 PM, 30th June 2015
About 6 years ago

Mortgage Express - Should I redeem?

Great, thanks for the help guys!... Read More

Mic Singh

14:43 PM, 30th June 2015
About 6 years ago

Mortgage Express - Should I redeem?

Reply to the comment left by "Lammy 247" at "30/06/2015 - 13:06":

Thanks Lammy.

I do not seem to be able to find this form you mention. Is it on the http://www.bbg.co.uk/ website?

I just called MX and the lady advised the only options to make one off capital repayments were to either call their head office and use a debit card or do a BACS transfer and then call the head office to let them know to allocate the payment as a capital repayment.

Either way, flagging myself on the radar of the head office doesn't sound like a great idea to me.... Read More

Mic Singh

12:17 PM, 30th June 2015
About 6 years ago

Mortgage Express - Should I redeem?

Does anyone know the easiest way to make over payments without contacting MX?

Iv looked at their website but it says to contact them to discuss over payments.

My mortage is interest only but I am thinking with all the uncertainty around MX that beginning to make repayments might be an idea. My mortgage was taken out at 90% LTV so below the 85% threshold.

Thanks... Read More

Mic Singh

13:04 PM, 20th January 2015
About 6 years ago

I Am A Property Developer - Ask Me Anything!

Reply to the comment left by "Tony Atkins" at "20/01/2015 - 11:11":

Thanks Tony much appreciated :)... Read More

Mic Singh

13:46 PM, 19th January 2015
About 6 years ago

I Am A Property Developer - Ask Me Anything!

Hi Tony, I wanted to query one of your comments from a thread in 2012!

In regards to the CIS scheme, I am employing a building contractor via a ltd company on a design & build JCT contract who will supply all materials. It will be around £800k to demolish a house and build some flats. We mainly buy and rent property out and intend to keep the flats for the same purpose.

After reading this link from HMRC (http://www.hmrc.gov.uk/manuals/cisrmanual/cisr12080.htm) I would have thought I would have to register for CIS. But you say below that only applies if its a labour-only basis. Are you able to confirm even after reading the above you still hold the same view? And if so are you aware if there is any literature online to support it in case my accountant asks me for it?

Your quote from 2012:
"I’m a small-scale property developer via a limited company, currently building two new houses and with experience of renovating 10 houses. You only need to register for CIS if you employ people on a labour-only basis. If you employ a building contractor or even a single self-employed person like a bricklayer, provided they supply a proportion of the materials (even if it’s just wall ties), you are not responsible for deducting their tax at source via CIS before you pay them. For example, on my current build valued about £400K I am employing a series of subcontractors for every step of the project; they all deal with their own tax and supply their own public liability and personal injury insurance."

Thanks :)... Read More