The annual tax on enveloped dwellings (ATED) for 2018 to 2019 will increase by 3% from 1 April 2018.
The ATED charges for the 2018 to 2019 chargeable period are increased in line with the September 2017 Consumer Prices Index (CPI) rate of inflation, which was 3%.
The table below shows the annual chargeable amounts:
Property value Annual chargeable amount
2017/18 2018/19
£500,001 to £1,000,000 £3,500 £3,600
£1,000,001 to £2,000,000 £7,050 £7,250
£2,000,001 to £5,000,000 £23,550 £24,250
£5,000,001 to £10,000,000 £54,950 £56,550
£10,000,001 to £20,000,000 £110,100 £113,400
£20,000,0001 and over £220,350 £226,950
The returns for 2018/2019 need to be filed online from 1 April 2018, and the old forms will be withdrawn from 31 March 2018.
HMRC notes: ‘Taxpayers can prepare for the annual reporting period and appoint their agent if they haven’t already done so, but should note that they will not be able to submit a return for the 2018/19 chargeable period until 1 April 2018. However, agents are being encouraged to register now so they are able to file the returns.’
Go to ATED online for more information.
Article from ACCA In Practice