ATED rates
An annual charge has applied from 1 April 2013 to each “expensive dwelling” owned by a company, initially to properties worth more than £2m.
The rate of tax depends on the property value at the relevant valuation date. From 1 April 2015 the charge was extended to properties worth between £1m and £2m and from 1 April 2016 the charge was further extended to properties worth between £500,000 and £1m.
The table below shows the rates for 2022/23.
The “property value” for this purpose was initially the value of the property as at 1 April 2012 or, if later, the date the property first enters the ATED regime. Properties are then revalued every five years and values for returns for 2022/23 are based on the value at 1 April 2017.
Property Value
|
£500,000-£1m | £1m-£2m | £2m-£5m | £5m-£10m | £10m-£20m | >£20m |
Annual charge 2022/23 | £3,800 | £7,700 | £26,050 | £60,900 | £122,250 | £244,750 |
Statutory reliefs from the ATED charge are not automatic, and must be claimed. A single return claiming exemption on a number of properties can be made, but must be made by an electronic return using HMRC’s Government Gateway.