ATED – valuation date
Published 27th March 2017
Residential property owned by a company is potentially subject to ATED (Annual Tax on Enveloped Dwellings) where the value on the valuation dates is more than £500,000. Relief from 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 2017 is 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. This valuation will be used for the calculation of ATED for the five years commencing April 2018.