30 April is the deadline for Annual Tax on Enveloped Dwellings

Companies, and some partnerships with at least one corporate partner, may need to file an Annual Tax on Enveloped Dwellings (ATED) return by 30 April 2024 if they hold an interest in UK residential property. This advance filing is for the period 1April 2024 to 31 March 2025 and applies if the property was valued (or revalued) at £500,000 or more on 1 April 2022, or if the purchase price (if acquired after 1 April 2022) exceeded £500,000.

Many companies will not have to pay the ATED charge, which is a flat annual fee based on the value of the property - for example, properties let wholly to third parties or under construction may be exempt from the charge. However, they are still required to file an ATED return and may incur penalties for late submission.

If you need assistance with your ATED compliance, or would like to discuss whether ATED applies to you, please don’t hesitate to get in touch with Aimée Dolbear ad@sanctoras.com or your usual Sanctoras contact.

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