Mark Smith

Registered with Property118.com
Sunday 21st September 2014


Latest Comments

Total Number of Property118 Comments: 5

Mark Smith

19:25 PM, 18th August 2015
About 5 years ago

Forced to become a tax exile?

Hi lee, I'm with you, and my thoughts change daily on the options available to us. As we won't know exactly what will be happening until early November, don't make any hasty decisions. As the phasing in is over a number of years we will have time to act as we feel right for all those concerned. I am number crunching my portfolio on CGT and also speaking speacialist property accountants. We have time to gain the knowledge and make informed decisions. I always try and see the positives from things that happen and I think this may give me the reason to look at some kind of exit strategies or consolidation of the business. Happy to chat sometime as things progress, Mark... Read More

Mark Smith

9:03 AM, 15th August 2015
About 5 years ago

Forced to become a tax exile?

Hi Mark, I've read this thread with more interest than some others, I've built up my BTLbusiness over the last 20years and have 6million of BTL debt. This new tax on landlords is really unbelievable. My 60 resi properties are now at risk, also my commercial properties are at risk as I'm a very hands on landlord as if I'm forced to move abroad I fear that I will not be able to manage these. It may be a good thing now to consider exit strategies and I like the sound of Portugal for just over six months of the year. Do we know when this tax might become definite as a lot of our future choices will depend on it?
Keep up the good work and I'll see you in Portugal ... Read More

Mark Smith

15:50 PM, 7th March 2015
About 6 years ago

When is a spade ever going to be called a spade? Misappropriate of public funds.

Some interesting comments here, as an experienced landlord with over 60 properties LHA tenants are or have been my main stay of rental income,(over 90%) due to non paying tenants, damaged property etc ect we have implemented stricter controls on what type of tenant we take. Now the majority of tenants need a fully qualified gaurentor, with these improved systems I am not running at high levels of rent arrears, high levels of damaged property's and going to court every month or so.
Spend time getting the right tenant at the beginning of the tenancy and you'll have a lot less headaches during the tenancy. I know that's not the answer for everyone, but due to HB payments being paid to the tenant, it's what we've needed to do. There is ample demand in our area and we have less vacancies than ever before, obviously as this continues with other landlords it is putting great strain on the local housing authorities. Mark... Read More

Mark Smith

15:33 PM, 22nd September 2014
About 6 years ago

Mark Smith

14:27 PM, 22nd September 2014
About 6 years ago

HMRC Questioning my Ltd Company

Hi Mark and Ian, thanks for the replies.
The company doesn't have any other customers, just us.
My company is a member of the NLA and also I am a member of the local Landlord Association, I am also an accredited landlord with Portsmouth City Council. The tenants pay all the rent into one pay in account and then the commission is deducted.
Any thoughts or further questions.

Thanks Mark Smith... Read More