ATED Valuation
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What is ATED Valuation (Annual Tax on Enveloped Dwellings)?
You will most likely be required to pay ATED (Annual Tax on Enveloped Dwellings) if your business owns a Canterbury residential property worth more than £500,000.
You risk penalties if you don’t file your ATED return. The property must now be accurately valued at least every 5 years. Get in touch with our team of RICS qualified valuers, who can assist you in lowering your tax liability, making sure you abide by the law, and avoiding the expensive errors that can occur when filing your ATED filings.
Properties that are not categorised as ATED
The following properties are not considered dwellings under ATED:
- boarding schools;
- military housing;
- hospitals;
- hotels;
- guest houses;
- care facilities;
- jails;
- student common areas
The term “dwelling” is further explained in Section 19 of the ATED technical guidance.
Why is an ATED value necessary?
The valuation of your property determines your ATED responsibility over the next 5 years. To stay in compliance with the law, you will need to have another appraisal done after 5 years. To calculate your ATED costs for the 2025 tax year, you will require an RICS valuation if your home hasn’t had a professional appraisal since 2020.
What is the appropriate amount of ATED to pay on Canterbury property?
Chargeable sums from April 1, 2024, to March 31, 2025:
| Value of a property | Annual fee |
|---|---|
| Over £500,000 to £1,000,000 | £4,400 |
| Over £1,000,000 to £2,000,000 | £9,000 |
| Over £2 million to £5 million pounds | £30,550 |
| £5 million to £10 million or more | £71,500 |
| Over £10 million to £20 million pounds | £143,550 |
| Over £20 million | £287,500 |
Valuation for Divorce (Matrimonial)
A Divorce Settlement Valuation is a service that will enable you to split them appropriately in the divorce settlement. It guarantees that no matter what the terms of the settlement are, the equity is divided proportionately.
Advantages of ATED Valuation
ATED valuations can assist you in the following ways, making them more than simply essential:
- Prevent fines: make sure that inaccurate appraisals don’t lead to financial penalties.
- Reduce your ATED fees: determine whether tax exemptions and reliefs apply to you in order to reduce your ATED costs.
- Cut down on delays: prevent application errors from interfering with the daily operations of your company.
- Make a financial budget: find out how much you must pay in ATED over the next 5 years.
Make contact
You may avoid potentially expensive fines by getting an ATED valuation that might significantly lower your tax bill for the following 5 years, and, if needed, file an objection with the district valuer. Get in touch with us now!
