ATED

What to look for in the changing face of the ATED

HMRC have launched plans to reduce the administrative burden for businesses subject to the annual tax on enveloped dwellings (ATED).

A new consultation document by the department comes in light of the reduction in the ATED threshold and proposes two options.

The first would retain the current filing date while allowing taxpayers who are eligible to claim a relief for more than one property and do not have an ATED liability to submit a supplementary return after the end of the chargeable period.

Is the annual tax on enveloped dwellings deductible for tax purposes?

Each Taxation writer provides a tetrad of analyses of the chancellor’s announcements

HMRC have published guidance on the stamp duty land tax (SDLT) treatment of de-enveloping transactions, which are expected as firms move to duck the new annual tax on enveloped dwellings (ATED).

Companies may de-envelope a property by a capital distribution to shareholders following liquidation of the company. The tax consequences of de-enveloping will depend on whether or not there is consideration given by the shareholders for the transfer of the property.