Jeremy Smith

Registered with
Thursday 25th July 2013

Latest Comments

Total Number of Property118 Comments: 282

Jeremy Smith

13:13 PM, 29th January 2015, About 7 years ago

Mark Robert Alexander vs West Bromwich Mortgage Company High Court Judgement

Perhaps there's a case for some other mortgage company to take ALL of West Broms customers, take the whole lot from them, surely they will lose alot of income if that happened.

Keep up the fantastic work Mark, and YES, Def. an appeal !!... Read More

Jeremy Smith

13:04 PM, 29th January 2015, About 7 years ago

Checks needed for DSS / LHA tenant?

DSS !!!! - No, no, no, no......for me anyway......

But if you MUST !....
Then, as already suggested, check all the social sites you can, google their names and addresses, and even the mobile numbers they have, you may be surprised at what it turns up.
And the electoral register can reveal interesting patterns of where they used to live.
And yes, check if that house was really sold by checking out rightmove or zoopla, perhaps.

One chap I knew ripped out the door frames from the walls (not my tenant), amongst other things,
...and another chap, my tenant's boyfriend who didn't even live there, would break off my car's wing mirrors, presumably he just had a chip on his shoulder...

It is always good to learn from your mistakes,
....but even better to learn from other's mistakes !... Read More

Jeremy Smith

12:35 PM, 29th January 2015, About 7 years ago

Mark Robert Alexander vs West Bromwich Mortgage Company High Court Judgement

Reply to the comment left by "Jamie Finch" at "29/01/2015 - 12:19":

I quite agree with you Jamie.
"for the same reasons".....

I have now started to wonder who the shareholders of West Brom Mortgage Company are .....
If this gives the green light to other mortgage companies to up their rates, then this result would be good for their shareholders too !

Draw your own conclusions.... Read More

Jeremy Smith

1:46 AM, 26th July 2014, About 8 years ago

Accountant appears to have let me down?

Why is your accountant suggesting a Trust ?
Is this to pass assets that you own on to your children, so that your estate value is reduced ? - I thought that this is the function of a Trust.
- I am NOT an advisor, nor do I have any experience in the field but only knowledge from friends who have created trust funds.

A trust, as far as I know, has nothing to do with transferring working profits from your business to your partner.
Perhaps other readers will correct me if this is not the case, and point out how it can be done through a trust.

If you AND your partner work in your business then it should be the case that you both have wages from it.
If you are self-employed, then you are taxed through your self-assessment tax return, but if you employ someone, then you should make them an employee, paying them through the PAYE system, deducting tax and NI at source (ie as you pay them)
..but if your employee is your partner, then you need further advice, to find out if you need to treat them differently than any other employee.
If your employees work for at least three people/businesses, then they can be self-employed, if they are not, they should be "employed" status and paid through your books. - You would need to register as an employer and get the information from the tax office about this.

If your partner or relatives are self-employed as well, then they should just give you a written invoice for their work. which you put into your accounts as a cost and tax deduction for you, if they earn less than the taxable income, then they will not need to pay tax on it, after they put their self -assessment tax return, but they would need to be paying their NI contribution of around £6-7 per week.
There is a rule about deducting tax at source from other contractors, but you would need to find out about that.

- I would suggest that you first read through ALL the HM revenue guidance notes that you can find on the subject, making notes, and then give them a ring to ask about all your queries, getting them to confirm all your questions in an email answer.

Good Luck !

....My various accountants have failed me over the years , with NO good advice in advance, and I have come to find that only the information that I have found out can be relied upon: one accountant declared 2 properties in one year, then 4 properties for the following year, with the income approximately the same, - a guaranteed recipe for the taxman to query my return !!!... Read More

Jeremy Smith

2:14 AM, 24th July 2014, About 8 years ago

Green Deal fund reduced - Not good for Landlords

I briefly looked into this, but first I have to pay for an EPC to tell me that it would improve the energy efficiency of my building - I think I know that already !!

Then I have to find companies that are signed up with the scheme - who I'm sure have to pay to be registered, and pay for all the training schemes, which just adds to their costs which they pass on to me.
I have to make sure the company fill in the correct forms, and if they get it wrong, then my claim in invalid.
Then, apparently, I only find out if my "voucher" is valid AFTER they have done the work and when the voucher is sent in to "redeem " it.

- Well, what a load of work, just to get a few quid.

- These companies are quoting £4-6,000 for a small installation, but adding up materials for my job, it would cost less than £1,000 for the materials, I just have to find my hammer drill and ladder, affix the insulation and beadings to the building, then find someone ( someone who usually does wall rendering) who can follow the manufacturers instructions and apply the render materials and mesh to the insulation.
- Job Done !!

I'm sure there's a few more hoops to jump through, such as council/building regs, but it's not that complicated.
They do this type of insulation in Europe all the time, I'm sure you could find an east european company who would ship over two guys to do it for less than it costs to employ an army of british people to fill in all the paperwork to get a "voucher" from the government !!

- can you detect an air of cynicism here ?... Read More