ARTICLE · 01 JULY 2015

Changes To Annual Tax On Enveloped Dwellings (ATED) Thresholds

Smith & Williamson

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The ATED charge initially applied to UK residential properties held in corporate and similar structures if worth more than £2m in April 2012, or at acquisition if later.

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Smith & Williamson

The ATED charge initially applied to UK residential properties held in corporate and similar structures if worth more than £2m in April 2012, or at acquisition if later. The ATED charge has now been extended to such properties worth more than £1m from April 2015, and from April 2016 to those worth more than £500,000. Note that even for the new ATED thresholds the valuation is also that at 1 April 2012, or at acquisition if later.

The new charges have initially been set at £7,000 and £3,500 per annum for properties in these two bands.

The ATED return for properties first falling within the charge from 1 April 2015 is not due until 1 October 2015, with any payment due by 31 October 2015 (generally the due date is 30 April).

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