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- Accounting & Finance Expertise
- ACCOUNTING ADVISORY
- Advisory
- Alice Stephenson – Founder & CEO, Stephenson Law
- All News
- ALLSTARS EARLY CAREER PROGRAMMES
- APPRENTICES
- April Bembridge – Chief People Officer, Cooper Parry
- Are You Claiming The Right Amount? Gated
- AUDIT – WHAT OUR CLIENTS SAY
- Audit and Assurance
- AUDIT FOR AIM LISTED COMPANIES
- B CORP
- Bundle and Pricing Options
- BUSINESS SERVICES INSIGHTS
- BUSINESS STRUCTURING
- Business Support And Grants
- Business Tax
- CAPITAL ALLOWANCES
- CAPITAL GAINS TAX
- Careers – Our Roles
- Careers Contact Us
- Careers Trainees FAQs
- Charities
- Construction And Property
- Contact Thank You
- Contact Us
- COOKIE POLICY
- Cooper Parry Book Club
- Cooper Parry Event
- CORPORATE AUDIT
- Corporate Finance
- Corporate Finance – What Our Clients Say
- CORPORATE FINANCE DEALS
- Corporate Finance News & Insights
- Corporate Finance News & Insights
- Corporate Social Responsibility
- Covid-19 Collaboration-news
- CP Futures
- CP Innovation
- CP INNOVATION – WHAT OUR CLIENTS SAY
- CP INNOVATION FULL PAGE. – DRAFT
- CP Tech 100
- CPERS: COOPER PARRY ENQUIRY RESOLUTION SERVICE
- Creative Tax Reliefs
- CULTURE
- DIVERSITY POLICY
- Early Stage To SME- WHAT OUR CLIENTS SAY
- Ecommerce
- Eddie Latham & PJ Scott – Co-founders, Velocity Commerce
- Education
- EMPLOYMENT TAX
- ENVIRONMENT
- FAQS
- Financial Reporting
- Find Us
- Flexible ‘Finance Bench’
- Future Events
- Galahad Clark – Founder VivoBarefoot
- GLOBAL TALENT PROGRAMME
- GRADUATES
- HEALTHCARE INSIGHTS
- Helena Hills – Founder & CEO, TrueStart
- HIGH GROWTH LOW DOWN
- Homepage
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- HUB CP – Live Lounge Velocity Snippets
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- Impact Beyond Business
- Impact Beyond Business New template
- In Their Words
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- INDIRECT TAX
- Inheritance Tax
- Intellectual Property & Patent Box
- INTERNATIONAL TAX
- Investment Calculator UK
- James Hyde – Founder & CEO, James and James
- Jay Richards & Cat Agostinho – Co-Founders, Imagen
- Justin Harling – CEO, CAE Technology Services
- LANDLORD
- LEGAL STUFF
- Let’s Stop Calling It R&D V2 Gated
- Life at cooper parry
- Lounge Underwear Webcast
- MAKING TAX DIGITAL
- Management Information and Reporting
- MANAGING AGENTS
- Manufacturing Tax and Advisory
- Marketing Thank You
- MID MARKET – WHAT OUR CLIENTS SAY
- Mid-Market
- New Hub CP
- New Hub CP Live Lounge
- Newsletter Form
- Newsletter Thank You
- NFP Webcasts And More
- Not For Profit Audit
- Operational Systems & Technology
- Our People
- Meet the Team
- Meet the Team Retail
- Our People – Big Business
- Our People – Board
- Our People – Business Tax
- Our People – Capital Allowances
- Our People – Corporate Finance
- Our People – CP Innovation
- Our People – Facilities & Wellbeing
- Our People – Leadership
- Our People – Marketing
- Our People – New Business Relationships
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- Our People – Personal Tax
- Our People – Service Charge
- Our People – Tech & High Growth
- Our People – Tech & Platforms
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- Our People – Transaction Tax
- Our People – VAT
- Our People – Wealth
- Our People Audit
- Our People Team
- Our Why And Values
- Outsourcing
- OVERSEAS EXPANSION
- Past Events
- Paul Richardson – Executive Chairman, Gymshark
- Paul Turton – CEO, Pact Coffee
- PENSIONS AUDIT
- Personal Tax
- Personal Tax Compliance
- PLACEMENTS
- Preference Centre
- PRIVACY POLICY
- Private Equity Advisory
- PROPERTY AND LANDLORDS
- R&D Capital Allowances
- R&D Newsletter Thank You
- R&D Tax Credits Questionnaire: Are you eligible?
- Raise investment or debt
- Raising Finance
- Read All About It
- Rebelution 2
- Rebelution 2 Top Tips – Cooper Parry Corporate Finance
- Rebelution 2 Top Tips – Cooper Parry IT
- Rebelution 2 Top Tips – Cooper Parry Wealth
- Rebelution 2 Top Tips – CP Futures
- Rebelution 2 Top Tips – VAT & Brexit
- Research & Development Tax Credits
- Research And Development Tax Credits
- RESIDENCE & DOMICILE ADVICE
- Retail
- Retail Advisory
- Retail Tax
- Rob Law MBE – Founder, Trunki
- Scale Up & High Growth
- SECURITY POLICY
- Service Charge
- Service Test
- SETTING UP BUSINESS IN THE UK
- SHARE INCENTIVES AND REWARD
- Share incentives: Annual Reporting
- SHAREHOLDER TAX ADVICE
- Shaun Doak – CEO, React Group Plc
- Small Business
- SNAPSHOT
- Succession Planning
- Supporting start ups
- SUSTAINABILITY
- Tax – What our clients say
- TAX COMPLIANCE SERVICES
- Tax Services
- TAX SETTLEMENTS AND INVESTIGATIONS
- Tech & High Growth
- Tech & High Growth – What our clients say
- TEN STAGES TO INVESTMENT
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- Test2
- This Is Us
- Tom and Tina Warner – Co-Founders, Warner’s Distillery
- Transaction Deals
- Transaction Services
- Transaction Services – What Our Clients Say
- TRANSACTION TAX
- TRANSFER PRICING
- Trusts and Estates
- UK support for International groups
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- Virtual FD
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ATED stands for Annual Tax on Enveloped Dwellings and is a charge which usually applies to UK residential property owned by companies, partnerships with a corporate member, and collective investment schemes.
Since the scheme was introduced, the threshold for ATED has decreased drastically, and now sits at just £500,000, which has led to more properties requiring an ATED return over time.
Properties within the scope of ATED must be revalued every 5 years, and the next revaluation date was 1 April 2022. You’ve got until the end of this month to declare and pay any tax owed.
VALUATION DATES
The value of the property for any chargeable period is the value at the later of:
- its initial acquisition date, and
- the revaluation date (1 April 2022)
This means that even where relief from ATED is available, properties requiring an ATED return must now complete the return based on the value of the property at 1 April 2022.
It is likely that many properties that were outside of the scope of ATED over the last 5 years may now be worth more than £500,000. Where this is the case, a charge may arise for the first time.
Furthermore, properties that previously have required an ATED return, may now fall within a higher valuation bracket, thus increasing the tax payable (subject to qualifying for any reliefs).
HMRC have published the summary of tax rate bands for the upcoming year which can be found here.
FILING DEADLINES
ATED returns must be submitted online between 1 April and 30 April each year or within 30 days of acquiring the property. For the upcoming year, where applicable, ATED should be declared and paid by 30 April 2022 for the period 1 April 2022 to 31 March 2023.
RELIEFS
There are several reliefs that are available to reduce the charge payable. A handful of these reliefs are highlighted below:
- Properties that are let out commercially to third parties
- Properties that are in the process of being redeveloped or held as stock by a property developer
- Properties that are open to the public for at least 28 days a year
- Farmhouses being occupied by working farmers
- Properties used by certain qualifying employees
- Farmhouses occupied by working farmers
WHAT TO DO NEXT?
Since 2022 is the latest revaluation year, properties that may not have previously fallen within the ATED regime may now do so.
It is recommended that where there is a chance of ATED applying, each residential property owned through the company, partnership or collective investment scheme should be revalued, to determine its market value for ATED purposes.
Whilst a formal valuation is not strictly required, it is advisable to use a property professional (for example, a surveyor or estate agent) in order to ensure that the figure is robust and reasonable.
The filing date is 30 April 2022, and if the return is not submitted on time, late filing penalties and interest can apply, even where no tax is due because of an available relief.
If you would like support with determining whether this is relevant, exploring the availability of reliefs, or assistance completing the return, please get in touch. Jake’s contact details are given below.
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