The Annual Tax on Enveloped Dwellings (ATED) rates payable for chargeable periods beginning on or after 1 April 2023 have been set by the Government as follows:
|Annual chargeable amount||Value of the interest on the relevant day|
|GBP 4,150||More than GBP 500,000 but not more than GBP 1 million|
|GBP 8,450||More than GBP 1 million but not more than GBP 2 million|
|GBP 28,650||More than GBP 2 million but not more than GBP 5 million|
|GBP 67,050||More than GBP 5 million but not more than GBP 10 million|
|GBP 134,550||More than GBP 10 million but not more than GBP 20 million|
|GBP 269,450||More than GBP 20 million|
The rates have been increased by 10.1% compared to the 2022/23 chargeable period, in line with the September 2022 CPI.
For 2023/24 chargeable period the value of the interest to be used is either the one on 1 April 2022 if the interest was held at that date or the one at acquisition if acquired at a later date.
ATED returns for that period must be submitted between 1 April and 30 April 2023 and the any liability is payable by 30 April 2023.
let's work together