From 1 April 2013 the ATED applies to ‘high value’ residential properties owned via a corporate structure, unless the property is used for a qualifying purpose. From 1 April 2015 the tax applies to properties valued at £1m or more (previously £2m or more). There are many reliefs that can remove or reduce the charge, but in order to claim a relief, an ATED return must be submitted. The 2015/16 ATED return and tax due must generally reach HMRC by 30 April 2015.
|Property value||Annual charge to 31.3.16||31.3.15|
|£1m – £2m||£7,000||N/A|
|£2m – £5m||23,350||£15,400|
|£5m – £10m||54,450||35,900|
|£10m – £20m||109,050||71,850|