An Annual Tax charge applies while companies and certain other vehicles hold high value residential property typically for someone connected with them to use as their home. The value threshold is £1 million since 1 April 2015 and will fall further to £500,000 from 1 April 2016.
The ATED charges are shown below:
|Value of UK residential property||Annual charge for the period ended 31 March 2016||Annual charge for the period ended 31 March 2017|
|Over £500,000 up to £1 million||–||£3,500|
|Over £1 million to £2 million||£7,000||£7,000 + CPI|
|Over £2 million to £5 million||£23,350||£23,350 + CPI|
|Over £5 million to £10 million||£54,450||£54,450 + CPI|
|Over £10 million to £20 million||£109,050||£109,050 + CPI|
|Over £20 million||£218,200||£218,200 + CPI|
As RICS registered valuers we are able to provide valuations for ATED and negotiate as necessary on your behalf with HM Revenue & Customs.