Annual Tax on Enveloped Dwellings (ATED)

Taxation of High Value Residential Property  The Budget on 22nd March 2013 proposed a new annual charge and an extension of Capital Gains Tax to certain ‘non-natural persons’ owning residential property with a value in excess of £2 million, alongside an increase in the stamp duty land tax (“SDLT”) rates. Finance Act 2013 was granted…

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From 1st October all ATED returns must be submitted within 30 days of the date of acquisition

Are you or any of your clients buying a UK residential property via a non-natural person (e.g. trust or a company etc) for £2m plus?   If so be aware that from 1st October 2013 an ATED return and any tax due must be submitted and paid within 30 days of the date of acquisition. Those undeterred…

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