ATED – Do you know when your return is due?

Have you completed your 2018-19 ATED return due by 30 April?

The Annual Tax on Enveloped Dwellings (“ATED”) applies to companies that own UK residential property valued at more than £500,000.

The ATED threshold has reduced significantly since the regime was first introduced in April 2013. ATED initially only applied to properties valued at more than £2mil. This reduced to £1mil from April 2015, and reduced further to £500,000 from April 2016.

ATED charges for 2018-19 range from £3,600 to £226,950 depending on the value of the property. For 2018-19 returns properties must be revalued to their value as at 1 April 2017. There are a number of reliefs from ATED charges but a return must be filed in order to claim the relief. Penalties and interest may be charged where ATED obligations are not met.

There are different reporting requirements for acquisitions and disposals of property within the ATED regime.

If you’re unsure if the ATED regime applies to you, or you need help with ATED reporting, please get in touch.