Nicholas Van Hoogstraten today admitted saying he would give landlord Mohammed Raja 'a slap' but denied there was any threat behind it.
The Old Bailey murder trial heard Mr Raja was late with a payment owed to the multi-millionaire businessman.
Mr Raja sent a letter to a property agency owned by Hoogstraten, saying he had had to "pass the hat around his office", the jury heard.
Under cross-examination, Hoogstraten told the court: "It was a default by a few days and I thought it was cheeky."
David Waters QC, prosecuting, asked Hoogstraten: "Reference to giving someone a slap is a euphemism. One does not mean giving him a slap on the cheek, it means something more serious, would you agree?"
Hoogstraten replied: "Certainly not. No."
Hoogstraten was also asked about a reference he allegedly made to Mr Raja's son Amjad, calling his father a 'maggot'.
In police interviews, Hoogstraten confirmed he considered Mr Raja a 'maggot in society' who contributed nothing.
However, in the dock Hoogstraten denied these were his true feelings towards the landlord.
Hoogstraten told the jury: "Everything had been conducted on an amicable basis but by this time things had got to the stage where I had to take positive action. Previously it was laissez faire and I had not been bothered.
"But enough was enough and I had to repossess the buildings. Up till then I had only had amicable relations with Mr Raja senior and, in fact, Mr Raja junior. They had not seen the other side."
Mr Waters asked if this was an implicit threat. But Hoogstraten said no.
Hoogstraten, of High Cross Estate, Framfield, near Uckfield, is accused of hiring two hitmen to murder Mr Raja on July 2 1999.
He denies murder and conspiracy to murder. David Croke, 59, of Bolney Road, Moulsecoomb, Brighton, and Robert Knapp, 53, of County Limerick, deny murder.
Earlier, the court heard Hoogstraten thought his alleged hitman was behind a burglary at his estate.
Antiques, ornaments and china went missing from the luxurious home in 2000.
Hoogstraten told the jury yesterday he concluded Robert Knapp was behind the thefts.
It is alleged that Knapp, whose mother lives on the estate, was hired by Hoogstraten to murder Mr Raja a year earlier.
Hoogstraten said: "When we realised the extent of what had been stolen we knew it would not have been taken on any one night.
"The burglary had been committed to cover up the fact that, maybe for weeks prior to that, the stores had been pilfered.
"I concluded Knapp was responsible. He had chosen the opportunity while I was in Zimbabwe. It was a very embarrassing situation. I did not want to accuse him of doing it outright.
"I said I did not want to see him again and I wanted him out of my property."
Hoogstraten denied he knew the second alleged hitman David Croke.
Croke and Knapp are accused of shooting and stabbing Mr Raja to death at his home in Sutton, Surrey, on July 2, 1999.
The jury has heard two hitmen dressed in gardening gear carried out the killing. But Hoogstraten said it did not sound like an assassination.
He told the court he did not want to "belittle the terrible thing which happened to Mr Raja" but said to suggest it was a contract killing was "a nonsense".
He said: "If you go round and rob somebody with a gun, the first thing you do is shoot into the ceiling to frighten them and get them to lie down.
"Mr Raja opened the door with a 10in kitchen knife. That has been swept under the carpet."
Hoogstraten said early newspaper reports labelled Mr Raja a "millionaire property landlord". But he said he knew Mr Raja was "skint".
Hoogstraten's QC, Richard Ferguson, asked his client what he had to say to the allegation that he murdered Mr Raja.
Hoogstraten began to well up as he replied he had never been asked that.
"Do you deny the allegations?" Mr Ferguson asked.
"Absolutely. I have five children ... " Hoogstraten replied before his voice broke off.
The trial continues.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article