A quick reminder that the filing deadline for ATED returns where a residential property within its scope was owned on 1 April 2025, is 30 April.
A few points to note in this context:
– it is necessary to file a relief declaration return if you are exempt from the charge
– that applies to property developers
– ATED applies to partnerships with at least one company member and collective investment schemes
– property is within scope if it is residential and has a value of £500k or more
– the most recent valuation date was 1 April 2022
– a change in ownership can trigger a valuation date
– penalties can amount to £1,600 for a year for failure to, or late, filing
Case law may assist in reducing penalties arising in later years that are linked to the original failure to file