ICAEW's Tax Faculty's provides a summary of the announcements on property tax in the Spring Budget 2021, including ATED and stamp taxes.
The annual tax on enveloped dwellings (ATED) will rise by 0.5% from 1 April 2021 in line with the September CPI.
The revised rates are as follows:
Charge for tax year 2021/22
|Charge for tax year 2020/21|
More than £500,000, but not more than £1m
|More than £1m, but not more than £2m||£7,500||£7,500|
|More than £2m, but not more than £5m||£25,300||£25,200|
|More than £5m, but not more than £10m||£59,100||£58,850|
|More than £10m, but not more than £20m||£118,600||£118,050|
|More than £20m||£237,400||£236,250|
Note: the charge applies for years beginning on 1 April and ending on 31 March, rather than tax years.
Find out more about this relief in our stamp taxes section.
ICAEW Know-How from the Tax Faculty
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