ATED & Tax Advisory Partnership

What is ATED?

Since 1 April 2013, an annual tax charge has applied to “high-value” UK residential property owned by certain “non-natural persons”. This is known as the Annual Tax on Enveloped Dwellings (“ATED”) charge.

The charge broadly applies to UK residential properties which are worth more than £0.5m.

Returns and payment

Where an ATED charge applies, a Tax Return and the associated payment will be usually required by 30 April in the year for which the charge applies, i.e. 30 April 2024 for the period 1 April 2024 to 31 March 2025. Different rules apply where e.g. a property is acquired part-way through a year, however. Penalties and interest apply where payment and or filing dates are missed.

Certain categories of buildings, e.g. hotels, guest houses and care homes are not classified as dwellings, so don’t fall within the ATED regime, and a number of further reliefs (most notably for commercial lettings and development activity) may be claimed. At present, these can only be claimed by completing and submitting an ATED Tax Return.

Rate bands

The current ATED charges are set out below.

Property Value

2024-25

£500,000 to £1,000,000

£4,400

£1,000,001 to £2,000,000

£9,000

£2,000,001 to £5,000,000

£30,550

£5,000,001 to £10,000,000

£71,500

£10,000,001 to £20,000,000

£143,550

£20,000,001 and over

£287,500

Valuation of property

You must revalue your property every 5 years in line with ATED legislation.

The 2023 to 2024 chargeable period was a revaluation year.

If you acquired a property:

On or before 1 April 2022 – use 1 April 2022 as the revaluation date

After 1 April 2022 – use the date you acquired it as the valuation date

Valuation is principally a matter of self-assessment, we recommend a professional valuation is used when a revaluation is required.

UK Private Client Tax Team

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Jamie Favell

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Sophia Watsham

Partner

020 8037 1060

James Graham

Private Client Tax Director

020 8037 1064

Rachel Alabaster

Private Client Tax Director

020 8037 1062

Sucheta Thomas

Private Client Tax Director

020 8037 1055

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Very helpful throughout the process, available to answer one-off questions.

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Very thorough and answered my queries.

Retired, Non-Dom

Excellent individual service for a very small client.

Propery Investor and Non-Resident Landlord

Extremely helpful in advising on mine and my wife's situation with differences between US and UK along with setting up a business.

Central Bank Rates Sales Executive, HSBC

Proactive in looking out for my interests with respect to tax and trust planning.

Managing Partner, Astor Ridge LLP

TAP have always been very responsive and thorough in the answers. It's been a pleasure working with you!

Chief Trading Officer, Asset Strategies Group

TAP have been incredible when it comes to responding fast and with clarity

Media Entrepeneur

TAP have been professional and thorough in every regard, pointing out pros and cons of all choices and assisting with my international circumstances brilliantly.

International Finance Executive

Unrelenting commitment to offering the best service to myself and my company as well as sincere considered advice as my business has grown which has been an invaluable asset.

Director, Lily Vanilli Ltd

Very competent, always friendly and great to deal with.

Director, Market Risk Change Management, Deutsche Bank

Always aware of opportunities to reduce taxes.

Senior Partner, Covington & Burling LLP

Exceptional service and patience! We really value the effort and support they have given us as a new start up.

Director, Media Start-up

Exceptional turn around time on any questions/problems presented

Serial Investor & Entrepeneur

Exceptionally thorough responses delivered in a very timely manner.

Senior Managing Director, State Street Alternative Investment Solutions

Private Equity Executive and Entrepreneur

Mergers & Acquisitions, BP

TAP have always delivered outstanding advice and support.

CEO, Major Italian Bank

TAP sought ways to save us tax and made the process straightforward.

Professor, Oxford University

Overseas Property Developer

They were able to turn a HMRC GBP25,000 tax bill for income received in Germany into a GBP600 refund within a month!

Management Consultant, Oil & Gas, Altimus Management Solutions

Very clear and concise in explaining tax matters.

CEO, Asset Management Business

Very helpful throughout the process, available to answer one-off questions.

Director, JP Morgan

Very thorough and answered my queries.

Retired, Non-Dom

Excellent individual service for a very small client.

Propery Investor and Non-Resident Landlord

Extremely helpful in advising on mine and my wife's situation with differences between US and UK along with setting up a business.

Central Bank Rates Sales Executive, HSBC

Proactive in looking out for my interests with respect to tax and trust planning.

Managing Partner, Astor Ridge LLP

TAP have always been very responsive and thorough in the answers. It's been a pleasure working with you!

Chief Trading Officer, Asset Strategies Group

TAP have been incredible when it comes to responding fast and with clarity

Media Entrepeneur

TAP have been professional and thorough in every regard, pointing out pros and cons of all choices and assisting with my international circumstances brilliantly.

International Finance Executive

Unrelenting commitment to offering the best service to myself and my company as well as sincere considered advice as my business has grown which has been an invaluable asset.

Director, Lily Vanilli Ltd

Very competent, always friendly and great to deal with.

Director, Market Risk Change Management, Deutsche Bank

Personal Tax

Business

Resources

Annual Tax on Enveloped Dwellings ("ATED")

What is ATED?

Returns and payment

Rate bands

Valuation of property

How can we help?

UK Private Client Tax Team

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