This Content Was Last Updated on February 28, 2016 by Jessica Garbett
In April ATED will apply to a new banding of properties, those between £500,000 and less than £1m.
The annual charge will be £3,500. The current bandings are:
Chargeable amounts
| Property value | Annual charge |
| More than £1m but not more than £2m | £7,000 |
| More than £2m but not more than £5m | £23,350 |
| More than £5m but not more than £10m | £54,450 |
| More than £10m but not more than £20m | £109,050 |
| More than £20m | £218,200 |
HMRC is working on a new digital service for this tax and is seeking feedback.
Article extracted from ACCA “In Practice” Newsletter