ATED

Question 1

What is the ATED period?

Answer 1

1 April-31 March each year

Question 2

When does an ATED charge apply?

Answer 2

When a UK residential property is enveloped within a corporate ‘wrapper’.

Question 3

Who is ATED payable by?

Answer 3

The company which owns the high value dwelling

Question 4

ATED charge for 23/24 is based on?

Answer 4

Value of the property at 1 April 2022 or acqn cost if later. Can apportion if not held for the full year

Question 5

When is the ATED charge due?

Answer 5

30th april (WITHIN the ATED period) so for period ended 31 march 2024 it is due by 30 April 2023

Question 6

In the year of acquisition?

Answer 6

purchasing co has 30 days from acqn to submit and pay ATED charge (90 days if newly built)

Question 7

Examples of when relief from ATED is available?

Answer 7

let to a third party, held as part of property trading/dev business, houseing co-operative, held for charity/ opened to public at least 28 days of year, used by ee of a company, farmhouse occupied by farm worker