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What to look for in the changing face of the ATED
KEY POINTS
- The ATED charge is designed to counter the advantages of holding UK residential property in a non-UK company.
- There are three targeted structures and three potential tax liabilities.
- Note that the thresholds when the annual charge and capital gains tax apply are reducing from £2m to £500 000.
- If a business qualifies for relief from the annual tax it must still file an annual return.
- Although the annual charge is raising more than originally estimated owners may feel that it is a small price to pay to preserve other tax benefits.
The annual tax on enveloped dwellings (ATED) was initially introduced to eliminate any tax advantages from holding high-value homes in a corporate structure. However the complex rules have created confusion for clients...
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