Property Tax Compliance

HOME

⟩

5th February 2016

Annual Tax on Enveloped Dwellings (ATED): Threshold reduced.
The ATED charge applies to companies which own residential properties. On 1 April 2016, the lower threshold will be reduced from £1 million to £500,000. This will mean that many more companies will be caught within the ATED rules.

The deadline for submission of the 2016/17 forms, and payment of the tax if applicable, is 30 April 2016, so it would be timely to consider the market value of the properties owned at 1 April 2016 now to see if a return is due. Even if no tax is chargeable, because a claim for relief under one of the eight categories is available, a form will still need to be submitted.

The annual tax charge for properties valued between £500,000 to £1 million will be £3,500 for 2016/17.

Other items in Blogs

Lisa Smith

11th December 2018 To file or not to file, that is the question!

In common with many people, our client was notified in January 2018 that he no longer needed to file a tax return. As he receives income from multiple sources, i.e. a salary, various pensions and savings income, he wasn’t convinced that he had paid the right amount of tax for the year ended 5 April…

Jeannette Hume

11th December 2018 R&D tax credits explained

Research and development (R&D) tax credits are a valuable government tax relief that rewards UK companies for investing in innovation. Companies that spend money developing new products, processes or services; or enhancing existing ones, are eligible for a cash payment and/or Corporation Tax reduction. R&D tax credit rates are the equivalent of up to 33p…

Matilda Mawson

11th December 2018 Don’t let your tax bill get you down – file your return before 30 December and spread the payment over a year!

With the festive period looming, completing self-assessment tax returns are the least of most people’s worries, however, if you are employed or receiving a pension and have tax deducted at source by your employer there is a benefit to filing your return before Christmas! If your return is filed before 30 December 2018 you can…

Jeannette Hume

7th December 2018 Budget Changes Encourage Investment

A number of measures contained in October’s budget were designed to increase investment made by UK businesses and aimed at raising the UK’s international competitiveness. Farmers anticipating expenditure on new commercial buildings or a large outlay on machinery, may find Chancellor Hammond’s changes both interesting and useful. Let’s look first at the Structures and…

Matilda Mawson

30th November 2018 Don’t duck out on your filing obligations – check if you need to complete a self-assessment tax return before it’s too late!

There are now only 62 days before the tax return filing deadline of 31 January 2019. Not sure if you need to file a tax return? HMRC have released a new questionnaire that only takes a few minutes and will check whether any of your income or gains will require you to submit a return.…

Donna Gidney

22nd November 2018 Guest Speaker confirmed for Start-up Seminar at March Office

Our March office will be hosting its start-up seminar on 29 November 2018 between 6pm and 8pm. The evening will aim to cover the following key areas for those starting out in business: Choice of business structure Record keeping, including digital software packages Compliance with HMRC regulations Funding options Employment issues We are delighted to…

MENU

Blog Entry

Property Tax Compliance