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Annual Tax on Enveloped Dwellings (ATED)

Wed 15 March 2017

ATED is an annual tax payable on residential properties held by Companies or Partnerships valued at more than £500,000. An ATED return will need to be completed if the property is a dwelling, is in the UK and has a value of more than £500,000 as of 1st April 2012 and is owned completely, or partly, by a Company, a Partnership where one of the partners is a Company, or a collective investment scheme.

Properties that fall within the scope of ATED need to be revalued every five years and the next valuation date is 1st April 2017. It is anticipated that HMRC is looking to scrutinise returns.  As the amount of tax paid depends on which valuation bracket the property falls within, it is likely there will be numerous properties that fall around the limits of a particular band and therefore it is important to ensure that a professional valuation is undertaken that could assist in saving a significant amount of tax. Further information is available on the HMRC website with regard to valuation bands. Stags have a number of experienced valuers who would be able to assist in preparing a formal valuation which can be used to support any return made to HMRC.

For further information please call Stags Professional Services on 01392 439046

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