Continuing on with our miniseries of interviews with successful individuals within the property industry, Rob talks to Mark Smith, a barrister based at Cotswold Barristers, Cheltenham.

As a tax expert, Mark, on behalf of 6,200 landlords, led a legal team responsible for recovering £27million of unlawfully charged mortgage interest from West Bromwich Building Society in 2016.

In association with Property 118, he has been the guiding light behind robust strategies to allow rental businesses to incorporate without re-financing. Over a hundred businesses have successfully done so to date, thanks to Mark.

In this special interview, Mark shares his advice for success, as well as his insights into the future of property investment, his opinions on how Brexit will influence the market, and how he began in the business.

Sign Up For MSOPI Here: https://bit.ly/msopi-nomad

KEY TAKEAWAYS 
Tax Planning, Tax Avoidance and Tax Evasion are different things: Tax Planning involves structuring a business in compliance with the law and HMRC practices. Tax Avoidance is a way of paying minimal to no tax using as many methods as possible to pay as little as possible. Tax Evasion is the non-payment of tax and is a criminal offence.
Mark is often surprised at the lack of knowledge among property investors regarding tax laws and regulations that can be helpful or detrimental to their income. He puts this down to the commonly held belief that many coming into the property investment industry seem to feel that they are not actually running a business. Ideally, Mark would like to see this attitude to be corrected.
Section 24 was designed to level the playing field between property investors and first-time buyers trying to get onto the property ladder. It only applies to people who pay self-assessment income tax on their property income.
Mark has seen many paradigms shift during his thirty-four years in the industry. There was a reasonable amount of money around, and the “hobbyist” attitude toward property investment meant that there was not much in the way of regulation. When the credit crunch came, the investment market was taken a lot more seriously.
If you enter into property investment with the view that you are the CEO of a significant business, that is the way that you will achieve success.
When it comes to consulting a tax expert, Mark advises speaking to one as soon as possible once a decision has been made to enter the industry. Not only will it help you to understand the many regulations you need to adhere to, but it can also save you money and time. There may be a raft of measures your expert can help you with from the start.
Property investment is hard work, and you are entitled to run it in the best and most efficient way possible so as to reap the maximum rewards from it. This is why it’s definitely worth seeking professional help so as to best structure your tax plan. Mark does not advocate shady methods of avoiding tax but does suggest that there may be many legal avenues through which less tax can be paid, thereby increasing your benefits.
On the back on Mark’s famous case against the West Bromwich Building Society in 2016, he began to work with Property 118 in order to see to it that over two hundred businesses have been able to be incorporated, as well as advising on trust structures and partnership structures.
So far, Mark’s only experience of the “Brexit Effect” in terms of property has been a tailing off of interest from EU citizens wishing to invest, or even rent in Britain, which is completely understandable. Until the full terms and effects of Brexit are known, no definite plans or stability in the market can be assured.
Mark’s top tips for those interested, or for those already involved in property investment would be to plan properly. Make sure you have taken the time to get educated about what you’re doing. Forums are a great place to learn from each other. Remember that you are the CEO of a significant business; be more robust in speaking to the paid professionals who work for you and tell them what you want to achieve.
Always take the best advice that you can. You don’t need to take a lot of advice, just take the best.

 

BEST MOMENTS

‘I still love doing things that make a difference to somebody’

‘If you have five or six properties, you’re suddenly at the head of a million-pound business.

Property investors are seen as an easy target by the government’

‘If you take it seriously and organise yourself properly, then property investment can provide you with living expenses and a retirement plan as well’

‘You’ve got to think big and make your business scalable from day one’

‘A home is a basic thing that everybody aspires to, and if you don’t own your own, then you want the next best thing’

‘Have confidence in what you’re doing’

 

VALUABLE RESOURCES

Property 118

The Property Nomads Podcast

mark@cotswoldbarristers.co.uk

 

ABOUT THE GUEST

 Mark Smith is a well-known barrister within the private rented sector. He led the legal team that recovered £27million of unlawfully charged mortgage interest from West Bromwich Building Society in 2016 on behalf of 6,200 landlords (Mark Alexander v West Bromwich).

In association with Property118, he has designed robust strategies to allow rental businesses to incorporate without refinancing, and over 100 businesses have successfully done so to date from the introduction of the BICT in November 2015.

 

ABOUT THE HOSTS

Rob Smallbone and Matt McSherry, the hosts of The Property Nomads Podcast, are on a global mission to guide your success. Success can happen in many ways, shapes and forms. Think about what success means to you. More properties? More clients? Financial freedom? Time freedom?

Rob & Matt are just two guys who want to make a huge difference to people around the world. They are here to guide your success in property, business and life and to inspire you to achieve your goals, dreams and visions. They’ve travelled, explored, and invested. And they’re not planning on stopping these activities anytime soon.

Buckle up, sit tight and enjoy the ride that is life.

 

CONTACT METHOD 

 

LinkedIn

Facebook

Continuing on with our miniseries of interviews with successful individuals within the property industry, Rob talks to Mark Smith, a barrister based at Cotswold Barristers, Cheltenham.
As a tax expert, Mark, on behalf of 6,200 landlords, led a legal team responsible for recovering &pound;27million of unlawfully charged mortgage interest from West Bromwich Building Society in 2016.
In association with Property 118, he has been the guiding light behind robust strategies to allow rental businesses to incorporate without re-financing. Over a hundred businesses have successfully done so to date, thanks to Mark.
In this special interview, Mark shares his advice for success, as well as his insights into the future of property investment, his opinions on how Brexit will influence the market, and how he began in the business.
<hr>
Sign Up For MSOPI Here: <a dir="ltr" href="https://bit.ly/msopi-nomad">https://bit.ly/msopi-nomad</a>
<hr>
KEY TAKEAWAYS&nbsp;
<ul>
<li>Tax Planning, Tax Avoidance and Tax Evasion are different things: Tax Planning involves structuring a business in compliance with the law and HMRC practices. Tax Avoidance is a way of paying minimal to no tax using as many methods as possible to pay as little as possible. Tax Evasion is the non-payment of tax and is a criminal offence.</li>
<li>Mark is often surprised at the lack of knowledge among property investors regarding tax laws and regulations that can be helpful or detrimental to their income. He puts this down to the commonly held belief that many coming into the property investment industry seem to feel that they are not actually running a business. Ideally, Mark would like to see this attitude to be corrected.</li>
<li>Section 24 was designed to level the playing field between property investors and first-time buyers trying to get onto the property ladder. It only applies to people who pay self-assessment income tax on their property income.</li>
<li>Mark has seen many paradigms shift during his thirty-four years in the industry. There was a reasonable amount of money around, and the &ldquo;hobbyist&rdquo; attitude toward property investment meant that there was not much in the way of regulation. When the credit crunch came, the investment market was taken a lot more seriously.</li>
<li>If you enter into property investment with the view that you are the CEO of a significant business, that is the way that you will achieve success.</li>
<li>When it comes to consulting a tax expert, Mark advises speaking to one as soon as possible once a decision has been made to enter the industry. Not only will it help you to understand the many regulations you need to adhere to, but it can also save you money and time. There may be a raft of measures your expert can help you with from the start.</li>
<li>Property investment is hard work, and you are entitled to run it in the best and most efficient way possible so as to reap the maximum rewards from it. This is why it&rsquo;s definitely worth seeking professional help so as to best structure your tax plan. Mark does not advocate shady methods of avoiding tax but does suggest that there may be many legal avenues through which less tax can be paid, thereby increasing your benefits.</li>
<li>On the back on Mark&rsquo;s famous case against the West Bromwich Building Society in 2016, he began to work with Property 118 in order to see to it that over two hundred businesses have been able to be incorporated, as well as advising on trust structures and partnership structures.</li>
<li>So far, Mark&rsquo;s only experience of the &ldquo;Brexit Effect&rdquo; in terms of property has been a tailing off of interest from EU citizens wishing to invest, or even rent in Britain, which is completely understandable. Until the full terms and effects of Brexit are known, no definite plans or stability in the market can be assured.</li>
<li>Mark&rsquo;s top tips for those interested, or for those already involved in property investment would be to plan properly. Make sure you have taken the time to get educated about what you&rsquo;re doing. Forums are a great place to learn from each other. Remember that you are the CEO of a significant business; be more robust in speaking to the paid professionals who work for you and tell them what you want to achieve.</li>
<li>Always take the best advice that you can. You don&rsquo;t need to take a lot of advice, just take the best.</li>
</ul>
&nbsp;
BEST MOMENTS
&lsquo;I still love doing things that make a difference to somebody&rsquo;
&lsquo;If you have five or six properties, you&rsquo;re suddenly at the head of a million-pound business.
Property investors are seen as an easy target by the government&rsquo;
&lsquo;If you take it seriously and organise yourself properly, then property investment can provide you with living expenses and a retirement plan as well&rsquo;
&lsquo;You&rsquo;ve got to think big and make your business scalable from day one&rsquo;
&lsquo;A home is a basic thing that everybody aspires to, and if you don&rsquo;t own your own, then you want the next best thing&rsquo;
&lsquo;Have confidence in what you&rsquo;re doing&rsquo;
&nbsp;
VALUABLE RESOURCES
<a href="https://www.property118.com/">Property 118</a>
<a href="https://podcasts.apple.com/gb/podcast/the-property-nomads-podcast/id1440016017?mt=2">The Property Nomads Podcast</a>
<a href="mailto:mark@cotswoldbarristers.co.uk">mark@cotswoldbarristers.co.uk</a>
&nbsp;
ABOUT THE GUEST
&nbsp;Mark Smith is a well-known barrister within the private rented sector. He led the legal team that recovered &pound;27million of unlawfully charged mortgage interest from West Bromwich Building Society in 2016 on behalf of 6,200 landlords (Mark Alexander v West Bromwich).
In association with Property118, he has designed robust strategies to allow rental businesses to incorporate without refinancing, and over 100 businesses have successfully done so to date from the introduction of the BICT in November 2015.
&nbsp;
ABOUT THE HOSTS
Rob Smallbone and Matt McSherry, the hosts of The Property Nomads Podcast, are on a global mission to guide your success. Success can happen in many ways, shapes and forms. Think about what success means to you. More properties? More clients? Financial freedom? Time freedom?
Rob &amp; Matt are just two guys who want to make a huge difference to people around the world. They are here to guide your success in property, business and life and to inspire you to achieve your goals, dreams and visions. They&rsquo;ve travelled, explored, and invested. And they&rsquo;re not planning on stopping these activities anytime soon.
Buckle up, sit tight and enjoy the ride that is life.
&nbsp;
CONTACT METHOD 
&nbsp;
<a href="https://www.linkedin.com/company/the-property-nomads/about/">LinkedIn</a>
<a href="https://en-gb.facebook.com/ThePropertyNomads/">Facebook</a>

Property Nomads brings property and all things currency, money and macro straight to you. All with a no-nonsense attitude! 

EVENT MENTIONED ON PODCAST 
https://progressiveproperty.online/live-multiple-streams-of-property-income-interest-london/AMB4692

WHERE TO FIND US = https://linktr.ee/thepropertynomadspodcast

SOVEREIGN MAN PREMIUM INTELLIGENCE MEMBERSHIP = https://dash.sovereignman.com/a/smc12m995/tpnpodcast

SOVEREIGN MAN 4th PILLAR = https://dash.sovereignman.com/a/4pmain/tpnpodcast

PROPERTY BOOKS  
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL

ABOUT THE HOST
Rob Smallbone is the author of the Amazon best-seller Buy-To-Let: How To Get Started as well as 101 Top Property Tips and Property FAQ’s. 

Property Nomads brings property and all things currency, money and macro straight to you. All with a no-nonsense attitude! 
EVENT MENTIONED ON PODCAST  <a href="https://progressiveproperty.online/live-multiple-streams-of-property-income-interest-london/AMB4692">https://progressiveproperty.online/live-multiple-streams-of-property-income-interest-london/AMB4692</a>
WHERE TO FIND US = <a href="https://linktr.ee/thepropertynomadspodcast" data-saferedirecturl="https://www.google.com/url?q=https://linktr.ee/thepropertynomadspodcast&amp;source=gmail&amp;ust=1686386870688000&amp;usg=AOvVaw24jygsJC7ETEGW7oGeqipv">https://linktr.ee/thepropertynomadspodcast</a> 
SOVEREIGN MAN PREMIUM INTELLIGENCE MEMBERSHIP = <a href="https://dash.sovereignman.com/a/smc12m995/tpnpodcast" data-saferedirecturl="https://www.google.com/url?q=https://dash.sovereignman.com/a/smc12m995/tpnpodcast&amp;source=gmail&amp;ust=1686386870688000&amp;usg=AOvVaw3Mt16pMm9PsmgmljA6v0DI">https://dash.sovereignman.com/a/smc12m995/tpnpodcast</a> 
SOVEREIGN MAN 4th PILLAR = <a href="https://dash.sovereignman.com/a/4pmain/tpnpodcast" data-saferedirecturl="https://www.google.com/url?q=https://dash.sovereignman.com/a/4pmain/tpnpodcast&amp;source=gmail&amp;ust=1686386870688000&amp;usg=AOvVaw1AJx78Z7tzK5xLVjw2Z0Js">https://dash.sovereignman.com/a/4pmain/tpnpodcast</a> 
PROPERTY BOOKS  Property FAQs = <a href="https://www.youtube.com/redirect?event=video_description&amp;redir_token=QUFFLUhqbko0U3dKT3g3NWVLTXlrcjREVmxOZmdGSHM5UXxBQ3Jtc0tuME9qbUdPYlpjY0p6OFkxaS1TSlJzOXgwbVhFYlZNVUFrd1RzRXZIamJJQmk5QUNIYlVoZ1JnV0pQWjJ1b0ZERWtJTkVWNzZDLWxLNVVMZjJyaVBIUHVmYTBZUzhVMk4tZno0UWVtZW9TS2FUUFFSaw&amp;q=https%3A%2F%2Famzn.to%2F3MWfcL4&amp;v=hUIpY5z9iDM" data-saferedirecturl="https://www.google.com/url?q=https://www.youtube.com/redirect?event%3Dvideo_description%26redir_token%3DQUFFLUhqbko0U3dKT3g3NWVLTXlrcjREVmxOZmdGSHM5UXxBQ3Jtc0tuME9qbUdPYlpjY0p6OFkxaS1TSlJzOXgwbVhFYlZNVUFrd1RzRXZIamJJQmk5QUNIYlVoZ1JnV0pQWjJ1b0ZERWtJTkVWNzZDLWxLNVVMZjJyaVBIUHVmYTBZUzhVMk4tZno0UWVtZW9TS2FUUFFSaw%26q%3Dhttps%253A%252F%252Famzn.to%252F3MWfcL4%26v%3DhUIpY5z9iDM&amp;source=gmail&amp;ust=1686386870688000&amp;usg=AOvVaw3ywG3Sq2jPg9t3NqNbIywE">https://amzn.to/3MWfcL4</a>  Buy To Let: How To Get Started = <a href="https://www.youtube.com/redirect?event=video_description&amp;redir_token=QUFFLUhqa1E2QUx5dmRkUWFTQWsyVmhLbGVrb0FxcUNnUXxBQ3Jtc0tselFnNnk5VGRBcVEzeFlveldhVUdtZmNGdlJqR1V5ejYwQTZSUFJYMFRYdXpKS0NGSWZaT2o5blZ1RXl4bG1XbVdZWTQtU3cyVWlib09ZR0xIMGxzOU85ZjNsQlQ0X0Y4aEFXeWpZMTFPQW1oTXQxUQ&amp;q=https%3A%2F%2Famzn.to%2F3genjle&amp;v=hUIpY5z9iDM" data-saferedirecturl="https://www.google.com/url?q=https://www.youtube.com/redirect?event%3Dvideo_description%26redir_token%3DQUFFLUhqa1E2QUx5dmRkUWFTQWsyVmhLbGVrb0FxcUNnUXxBQ3Jtc0tselFnNnk5VGRBcVEzeFlveldhVUdtZmNGdlJqR1V5ejYwQTZSUFJYMFRYdXpKS0NGSWZaT2o5blZ1RXl4bG1XbVdZWTQtU3cyVWlib09ZR0xIMGxzOU85ZjNsQlQ0X0Y4aEFXeWpZMTFPQW1oTXQxUQ%26q%3Dhttps%253A%252F%252Famzn.to%252F3genjle%26v%3DhUIpY5z9iDM&amp;source=gmail&amp;ust=1686386870688000&amp;usg=AOvVaw3wSr9vgHsK-gwrLCtfirSU">https://amzn.to/3genjle</a>   101 Top Property Tips = <a href="https://www.youtube.com/redirect?event=video_description&amp;redir_token=QUFFLUhqbmVnUXA2cFZwWS1uMktqZGZTNEFPUXRMeFg4QXxBQ3Jtc0trRzFnd1NPWWRjZU5tLVlnZjRNQ0FmX3RjazV2aXE4ZGVQbDJOVW13OEc4TkdrMDJhUHlLcGdETWQxNzRmVWZCUkRtMTZXZEVPY1ktOXhScEZCejNudHFBTTVuQ1poU1Q3bFlBSDdPTEpfTWV3SEFCUQ&amp;q=https%3A%2F%2Famzn.to%2F2NxuAQL&amp;v=hUIpY5z9iDM" data-saferedirecturl="https://www.google.com/url?q=https://www.youtube.com/redirect?event%3Dvideo_description%26redir_token%3DQUFFLUhqbmVnUXA2cFZwWS1uMktqZGZTNEFPUXRMeFg4QXxBQ3Jtc0trRzFnd1NPWWRjZU5tLVlnZjRNQ0FmX3RjazV2aXE4ZGVQbDJOVW13OEc4TkdrMDJhUHlLcGdETWQxNzRmVWZCUkRtMTZXZEVPY1ktOXhScEZCejNudHFBTTVuQ1poU1Q3bFlBSDdPTEpfTWV3SEFCUQ%26q%3Dhttps%253A%252F%252Famzn.to%252F2NxuAQL%26v%3DhUIpY5z9iDM&amp;source=gmail&amp;ust=1686386870688000&amp;usg=AOvVaw08Em7GiLbSgqTl0j-gHsly">https://amzn.to/2NxuAQL</a>  
ABOUT THE HOST Rob Smallbone is the author of the Amazon best-seller Buy-To-Let: How To Get Started as well as 101 Top Property Tips and Property FAQ’s.

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