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Tax Rates & Allowances

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Capital Taxes

Enveloped Dwellings

Annual tax on Enveloped Dwellings (ATED)

The annual charges per property in each of the valuation bands are:  

Property value £Annual charge 2020/21 £2021/22  £2022/23  £2023/24  £
Up to 500,000NilNilNilNil
500,001 to 1,000,0003,7003,7003,8004,150
1,000,001 - 2,000,0007,5007,5007,7008,450
2,000,001 - 5,000,00025,20025,30026,05028,650
5,000,001 - 10,000,00058,85059,10060,90067,050
10,000,001 - 20,000,000118,050118,600122,250134,550
Over £20,000,000236,250237,400244,750269,450

ATED applies where a residential property located in the UK is owned by a non-natural person such as; a company, partnership with a corporate member or a collective investment scheme.

For the years 2023/24 to 2027/28  the property valuation is its market value on 1 April 2022, or when acquired, if later. For the previous five years the property valuation point was 1 April 2017, or the date of acquisition if later.

There are a large number of reliefs and exemptions from the charge, and where such a relief applies an ATED relief declaration must be submitted. In other cases where an ATED charge is due the ATED return must be delivered to HMRC and the charge paid by 30 April within the chargeable year that runs from 1 April to 31 March.

Capital Gains Tax

The rates and annual exemption for capital gains tax are as follows:

Annual exemption£12,300£12,300£12,300£6,000
Annual exemption for most trustees and personal representatives£6,150£6,150£6,150£3,000
Rate for gains within the basic rate band10%10%10%10%
Rate for gains above the basic rate band20%20%20%20%
Gains on residential property and carried interest within the basic rate band18%18%18%18%
Gains on residential property and carried interest  above the basic rate band28%28%28%28%
Rate for gains subject to Business Asset Disposal Relief10%10%10%10%
Lifetime limit for gains subject to Business Asset Disposal Relief£1,000,000£1,000,000£1,000,000£1,000,000