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ATED - What is it? What does it mean for me?

Jordans Trust Company
07 April, 2016

ATED is an annual tax payable mainly by offshore companies that own UK residential property valued at more than £1 million. You'll need to complete an ATED return if your property:

  • is a dwelling.
  • is in the UK.
  • was valued at more than £2 million on 1 April 2012, or at acquisition if later, for returns from 2013 to 2014 onwards.
  • was valued at more than £1 million on 1 April 2012, or at acquisition if later, for returns from 2015 to 2016 onwards.
  • is owned completely or partly by a
    • company
    • partnership where one of the partners is a company
    • collective investment scheme – for example a unit trust or an open ended investment vehicle

The next return required to be prepared, and required to be submitted to HM Revenue & Customs is for the period 01.04.2016 to 31.07.2017. This return must be submitted and any liability to ATED paid before 30.04.2016.

The above detailed ATED Returns must be filed and any liability paid on or after 1 April 2016 but before 30 April 2016.

For more information about ATED returns, you can visit. The various ATED bands which are detailed below:

Chargeable amounts for 1 April 2016 to 31 March 2017

Property valueAnnual charge
More than £1 million but not more than £2 million£7,000
More than £2 million but not more than £5 million£23,350
More than £5 million but not more than £10 million£54,450
More than £10 million but not more than £20 million£109,050
More than £20 million£218,200

There's a change in rules for returns from 2016 to 2017 onwards. If your property was valued at more than £500,000 on 1 April 2012, or at acquisition if later, you'll need to complete an ATED return. The annual charge for this band will be £3,500.

Returns can be completed and submitted to HM Revenue & Customs online.

What can Jordans do to help?

Jordans Trust Company Ltd can be appointed as your ATED Agent and can submit the return on behalf of your company, based on the information provided in relation to the property.

Our fees for assisting with the ATED return will be £450.

If you would like to discuss ATED, the filing of the returns, claims for relief, or whether your company is required to complete a return, please contact any of the following people at Jordans Trust Company Ltd:

Martin Palmer – Director and Principal of Jordans Trust Company Ltd - mpalmer@jordanstrustcompany.com

Nicola Morgan-Schulz – Jordans Accounting Services Manager - nmorgan-schulz@jordanstrustcompany.com

Claire Jaques – Accounts Assistant - cjaques@jordanstrustcompany.com

We offer a full range of accounting services, please visit our dedicated webpage.


About the Author

Jordans Trust Company

Jordans Trust Company are experts in trust and corporate planning services to help you protect your wealth and grow your assets, providing exceptional knowledge and expertise across the globe.

You can call us on +44 (0)117 918 1293 or email info@jordanstrustcompany.com.


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