Tax update: Do you hold residential property in a company?
Thursday 24 March 2022
A company which holds UK residential property that falls with the annual tax on enveloped dwellings (ATED) charge will need to carry out a revaluation of the property at 1 April 2022.
The ATED rules apply to properties with a value in excess of £500,000, with a fixed annual charge applied based on the value of the property. With rapidly increasing prices over the last five years, companies may find that they will fall into the ATED regime for the first time following the revaluation.