ATED companies must revalue their property in 2023
What is ATED?
ATED (annual tax on enveloped dwellings) is payable by companies that own residential property at a value of £500,000 or more. This includes part ownership by the company, collective investment schemes, and partnerships where any of the partners is a company. It is only necessary to revalue the residential part of a mixed-use property; and for properties such as self-contained flats, each flat will need to be valued separately. Relief and exemptions are available under certain conditions for a number of sectors including property-development, investment, and charities.