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annual tax on enveloped dwellings

ATED (Annual Tax on Enveloped Dwellings) is an annual tax payable by companies that own UK residential property (a dwelling) that is valued to be worth above a certain amount.

Most residential properties are owned directly by individuals, although in some cases a dwelling may be owned by a company, a partnership with a corporate member or other collective investment vehicle. In these circumstances the dwelling is said to be ‘enveloped’ because the ownership sits within a corporate ‘wrapper’ or ‘envelope’.

The valuation date is 1 April 2012 for all properties acquired before that date, or the date of acquisition if it is later, and the valuation lasts for 5 years.

Our valuations are undertaken in accordance with Part 3 of the Finance Act 2013 and RICS Guidance Note 3. Our valuation report will not only provide our valuation of the property at the required date, but will also give supporting evidence as to how we concluded our valuation.

After you have received your report and should the valuation be disputed by HMRC, it may be necessary for us to negotiate with them on your behalf. With over 40 years of experience of the Central London property market, we are well positioned to robustly argue your case.