ATED

Annual Tax on Enveloped Dwellings

Paul Fay, Partner, Corporate Tax
03/04/2020
ATED
Are you due to make an Annual Tax on Enveloped Dwellings (ATED) return by 30 April?

ATED returns for the year to 31 March 2021 must be filed and any tax paid by 30 April 2020.

ATED applies to residential property owned by non-natural persons, including companies or a partnership with a corporate member. The charge applies for properties worth £500,000 or more.

The charge for the year to 31 March 2021 is based on the value of the property at 1 April 2017 (or on acquisition if later). The annual charges for 2020/2021 are:

Chargeable amounts for 1 April 2020 to 31 March 2021

  Property value  Annual   
  More than £500,000 up to £1 million £3,700  
  More than £1 million up to £2 million  £7,500   
  More than £2 million up to £5 million  £25,200   
  More than £5 million up to £10 million   £58,850  
  More than £10 million up to £20 million  £118,050   
  More than £20 million  £236,250   

 

Certain exemptions are available, including for bona fide property developers or investors letting to third parties, but a return should be submitted to claim the exemption.

If you have any queries please speak to Paul Fay or your usual Crowe Tax Advisor.

Contact us

Paul Fay
Paul Fay
Partner, Corporate Tax
London