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Capital Taxes

Enveloped Dwellings

The annual tax on enveloped dwellings (ATED) applies where a residential property located in the UK is owned by a non- natural person such as; a company, partnership with a corporate member or a collective investment scheme. There are a large number of reliefs and exemptions from the charge, but where such a relief does not apply the ATED charge must be paid by 30 April within the year at the following rates:

Property value £ Annual charge 2018/19 £ Annual charge 2019/20 £
Up to 500,000 Nil Nil
500,001 to 1,000,000 3,600 3,650
1,000,001 - 2,000,000 7,250 7,400
2,000,001 - 5,000,000 24,250 24,800
5,000,001 - 10,000,000 56,550 57,900
10,000,001 - 20,000,000 113,400 116,110
Over £20,000,000 226,950 232,350

*2018/19 figures were announced at Autumn Budget 2017 and are subject to enactment.

Capital Gains Tax

The rates and annual exemption for capital gains tax are as follows:

2018/19 (£) 2019/20 (£)
Annual exemption £11,700 £12,000
Annual exemption for most trustees and personal representatives £5,850 £6,000
Rate for gains within the basic rate band 10% 10%
Rate for gains above the basic rate band 20% 20%
Gains on residential property (that do not qualify for private residence relief) within the basic rate band 18% 18%
Gains on residential property (that do not qualify for private residence relief) above the basic rate band 28% 28%
Rate for gains subject to entrepreneurs" relief 10% 10%
Lifetime limit for gains subject to entrepreneurs" relief £10 million £10 million

*2018/19 figures were announced at Autumn Budget 2017 and are subject to enactment.

 

Charities & Not For Profit

We have been providing charity clients with high quality, specialist advice and service for many years, and our charity clients range from small village halls to large national organisations...

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Farming Industry

The largest industry sector that we deal with is farming, as you would expect in a rural practice. This means that we have developed considerable expertise in this field...

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