ATED (Annual Tax on enveloped Dwellings) annual tax mainly applies to companies that own a UK residential property valued at more the £500,000
When do you need to complete an ATED return for your property?
If your property:
· Is a dwelling
· Is in the UK
· Was valued at more than:
o £500,000 on 1 April 2012, or at acquisition if later for returns from 2016 to 2017 onwards
o £1 million on 1 April 2012, or at acquisition if later, for returns from 2015 to 2016 onwards
o £2 million on 1 April 2012, or at acquisition if later, for returns from 2013 to 2014
· Isowned completely or partly by a:
o Partnership where one of the partners is a company
o Collective investment scheme
On 1st April 201 a new ATED band came into effect: if the property is valued between £500,000 and £1 million the normal filing and payment date is 30th April 2016.
What properties that aren’t classed as dwellings?
· Guest houses
· Boarding School Accommodation
· Student Halls of residence
· Military Accommodation
· Care homes