Annual tax on enveloped dwellings (ATED)
This applies where a residential dwelling in the UK is owned through:
a collective investment vehicle (such as a unit trust or an open ended investment company),
a partnership which includes one, or more, of the above.
The rates are:
|Property value (£)||Chargeable amount 1 April 2015-31 March 2016 (£)|
|1,000,000 to 2,000,000||7,000|
|2,000,001 to 5,000,000||23,350|
|5,0000,001 to £10,000,000||54,450|
|£10,000,001 to £20,000,000||109,050|
A dwelling may be part of mixed-use property and includes:
a property “capable of being a dwelling”,
the dwelling’s gardens and grounds and any building within them, unless that building is being used for a purpose covered by a relief.
A dwelling does not include:
a hotel or guest house,
a boarding school,
a hospital or care home,
a student hall of residence,
a historic house that’s open to the public and run on a commercial basis,
a farmhouse , provided the farm is run on commercial basis and it is occupied by a “farm worker”.