UK Capital Gains Tax and ATED Charges

For those clients with UK property owned personally or via a non UK resident Trust (and by any Company not within an ATED CGT charge), please note that Capital Gains Tax may apply to any disposals after 5 April 2015.There will be a form rebasing to the property's value as at 5 April 2015.

Also from 1 April 2015 the annual tax charge on properties (ATED) will apply to any Company owning UK residential property where the property is valued at over £1M, as at 5 April 2012, and an ATED return will have to be filed in all cases. If any of the exemptions apply, the Return will need to claim that exemption. The Return has to be filed by 15 October and the payment of the ATED by 31 October.

The extended ATED related CGT charge will also apply to any disposals of UK property by Companies from 1 April 2015 where the property's value was in excess of £1M as at 1 April 2012.

Please get in touch if you need specific advice and assitance with ATED Returns.

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