Annual Tax on Enveloped Dwellings
Are you due to make an Annual Tax on Enveloped Dwellings (ATED) return by 30 April?
ATED returns for the year to 31 March 2022 must be filed and any tax paid by 30 April 2021.
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 2022 is based on the value of the property at 1 April 2017 (or on acquisition if later). The annual charges for 2021/2022 are:
Chargeable amounts for 1 April 2021 to 31 March 2022
| 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 | £25,300 | ||
| More than £5 million up to £10 million | £59,100 | ||
| More than £10 million up to £20 million | £118,600 | ||
| More than £20 million | £237,400 |
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 Caroline Fleet or your usual Crowe Tax Advisor.
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Budget announcements surrounding SBA, business rates and both Investment and Capital Allowances will impact companies that own property and equipment.
