Capital Taxes

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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 £	2024/25 £
Up to 500,000	Nil	Nil	Nil	Nil	Nil
500,001 to 1,000,000	3,700	3,700	3,800	4,150	4,400
1,000,001 - 2,000,000	7,500	7,500	7,700	8,450	9,000
2,000,001 - 5,000,000	25,200	25,300	26,050	28,650	30,550
5,000,001 - 10,000,000	58,850	59,100	60,900	67,050	71,500
10,000,001 - 20,000,000	118,050	118,600	122,250	134,550	143,550
Over £20,000,000	236,250	237,400	244,750	269,450	287,500

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:

	2020/21	2021/22	2022/23	2023/24	2024/25
Annual exemption	£12,300	£12,300	£12,300	£6,000	£3,000
Annual exemption for most trustees and personal representatives	£6,150	£6,150	£6,150	£3,000	£1,500
Rate for gains within the basic rate band	10%	10%	10%	10%	10%
Rate for gains above the basic rate band	20%	20%	20%	20%	20%
Gains on residential property and carried interest within the basic rate band	18%	18%	18%	18%	18%
Gains on residential property and carried interest above the basic rate band	28%	28%	28%	28%	24%
Rate for gains subject to Business Asset Disposal Relief	10%	10%	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	£1,000,000

See our helpsheet an introduction to capital gains tax.

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