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:
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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