‘Annual Tax on Enveloped Dwellings’

Annual Tax on Enveloped Dwellings

Wednesday, March 8th, 2017

UK residential properties held through –non-natural persons (i.e. companies, certain partnerships) will be taxed according to valuations taken on 1 April 2017. The threshold above which Annual TAx on Enveloped Dwellings (‘ATEP’) is applied has fallen in recent years.

From 1 April 2016, the charge is levied on properties valued at in excess of £500,000.

The government is urging those responsible for an enveloped dwelling to obtain a valuation of the property as at 1 April 2017. A return for the period 1 April to 31 March 2018 is due by 30 April 2017, together with the associated tax.

If you would like more information about this, please contact Helen Sewell on Helen.Sewell@curoca.co.uk or call Helen on 01527 558539.