If your company owns a residential property in London and the value of this property is more than £500,000, it is likely that you will have to pay ATED (Annual Tax on Enveloped Dwellings).
If you fail to submit your ATED return you can be penalised. An accurate valuation of the property now has to be carried out at least every 5 years. Contact our panel of RICS registered valuers who can help you reduce your tax bill, ensure you comply with the law and steer clear of the costly mistakes that can be made when submitting your ATED returns.
Properties not classed as dwelling under ATED include:
Section 19 of the ATED technical guidance explains more about the definition of “dwelling”.
Your ATED liability for the next 5 years is based on the value of your property. After 5 years, you will need to have another valuation carried out to comply with the law. If you haven’t had a professional valuation carried out on your property since 2019, then you will need a RICS valuation to determine your ATED fees for the 2024 tax year. Thankfully, complying with the law is not the only advantage of an ATED valuation.
You can have an ATED valuation that could be a big help in reducing your tax bill for the next 5 years, keep away from potential costly fines and can raise objections to the district valuer if necessary. Contact us today!
Chargeable amounts for 1 April 2024 to 31 March 2025:
| Property Value | Annual charge |
| £500,000 to £1 million | £4,400 |
| £1 million to £2 million | £9,000 |
| £2 million to £5 million | £30,550 |
| £5 million to £10 million | £71,500 |
| £10 million to £20 million | £143,550 |
| £20 million or more | £287,500 |
If your company owns a residential property and its value is greater than £500k the, government charges ATED (Annual Taxation of Enveloped Dwellings). ATED is levied on residential properties that are classed as ‘dwellings’, i.e. a property that is used wholly or partly for residential purposes.
ATED valuations are more than just a necessity because they can help you:
