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:
|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