ATED is an annual tax payable mainly by companies that own UK residential property valued at more than £500,000.

You’ll need to complete an ATED return if your property:

– is a dwelling — find out the meaning of ‘dwelling’ in the next section
– is in the UK
– was valued at more than:

– £2 million (for returns from 2013 to 2014 onwards)
– £1 million (for returns from 2015 to 2016 onwards)
– £500,000 (for returns from 2016 to 2017 onwards)
– is owned completely or partly by a:
– company
– partnership where any of the partners is a company
­- collective investment scheme — for example a unit trust or an open ended investment vehicle

Returns must be submitted on or after 1 April in any chargeable period.
There are reliefs and exemptions from the tax, which may mean you do not have to pay.

Meaning of ‘dwelling’
Your property is a dwelling if all or part of it is used, or could be used, as a residence, for example a house or flat. It includes any gardens, grounds and buildings within them.
Some properties are not classed as dwellings. These include:

– hotels
– guest houses
– boarding school accommodation
– hospitals
– student halls of residence
– military accommodation
– care homes
– prisons

Value your property

To work out what you need to pay you’ll need to value your property using a valuation date.

When to submit your return

Normally you need to submit your return:

– by 30 April if your property is within the scope of ATED on 1 April
– within 30 days of acquisition if your property comes within the scope of ATED after 1 April
– for a newly built property, within 90 days of the earliest of the date:

– your property becomes a dwelling for Council Tax purposes
– it’s first occupied

You should only submit your return on or after 1 April for each relevant chargeable period.

Please contact us Accountancy N Tax Services Ltd to file your ATED return.