Property Changes from 1 April 2015 – a reminder
From 1 April 2015 the charges on enveloped properties (those held other than by individuals) are changing. The tax regime – Annual Tax on Enveloped Dwellings (ATED) -has new bands and rates as below:
| Property Value | 2014/15 Charge | 2015/16 Charge |
| More than £500k up to £1m (for 2016/17 onwards) | - | - |
| Morre than £1m up to £2m | - | £7,000 |
| More than £2m up to £5m | £15,400 | £23,350 |
| More than £5 up to £10m | £35,900 | £54,450 |
| More than £10m up to £20m | £71,850 | £109,050 |
| More than £20m | £143,750 | £218,200 |
The valuation date used is 1 April 2012 or acquisition date if later.
For 2015/16:
- companies already within the ATED regime will have to submit their ATED return and pay the tax no later than 30 April 2015;
- companies with properties valued between £1 and £2 million that are new to the regime have until 1 October 2015 to submit their return and 31 October 2015 to pay the charge.
From April 2016 the value limit reduces again to £500,000.
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Date: 8th April, 2015 |
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