RE: Martin Lewis...29 Oct 2024 23:24
Antony901
You own several companies and employ how many a 100+
Now you are big in property.
But let me recall, you said that you are paying a management company 12.5% £12.50 in the 100 !!!! what is your monthly management company costs?
Try managing them yourself, you have the time for you are on this board most of the day, if you need any advice just ask
You compared the rise in NI to inflation , well it will have inflationary affects lad. You are the only businessman (laugh) unworried about any NI increase or a rent cap.
But you omitted to answer my question on how any change in employee rights would affect you, like inflation I suppose!
All your properties are freehold . Flats are very uncommonly freehold, leasehold most commonly !
My properties are flats held as Common hold, which is also uncommon but no lease no freeholder the owners own the lot the land the air rights even.
My freeholds are on other properties houses blocks of flats, parking spaces etc.
Nice thing about a freehold, if someone refuses to pay the money for three years, then a court order can be applied for the
property to be forfeited . On one block I have the maintenance and insurance rights nice incomes if managed correctly.
And of course if someone wishes to extend the lease they cover all my costs and the increase in the new lease .
I am sorry and happy at the same time, to say that this financial year I have crossed another tax threshold it is a double
edged sword.
I am sure I will engage with your tomorrow it should be an interesting day.