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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  £ 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
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