First published 27th March 2017; Updated 15th November 2018 / April 2023
Residential property owned by a company is potentially subject to Annual Tax on Enveloped Dwellings where the value on the valuation dates is more than £500,000
Relief from Annual Tax on Enveloped Dwellings (ATED) may be available if the use of the property meets one of several criteria including commercial letting or development.
Whether your property qualifies for relief or not you must still notify HMRC and complete annual Returns for ATED. You must also have the property revalued once every five years.
April 2022 was another valuation date and so if your property is held through a company it is now time to get it revalued whether you are entitled to relief from the ATED or not. The 5th April 2022 valuation is to be used for the calculation of Annual Tax on Enveloped Dwellings for each of the five years commencing April 2023.
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