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 2020/21 £ | 2021/22 | 2022/23 |
| Up to 500,000 | Nil | Nil | Nil |
| 500,001 to 1,000,000 | 3,700 | 3,700 | 3,800 |
| 1,000,001 - 2,000,000 | 7,500 | 7,500 | 7,700 |
| 2,000,001 - 5,000,000 | 25,200 | 25,300 | 26,050 |
| 5,000,001 - 10,000,000 | 58,850 | 59,100 | 60,900 |
| 10,000,001 - 20,000,000 | 118,050 | 118,600 | 122,250 |
| Over £20,000,000 | 236,250 | 237,400 | 244,750 |
Capital Gains Tax
The rates and annual exemption for capital gains tax are as follows:
| 2020/21 (£) | 2021/22 | 2022/23 | |
| Annual exemption | £12,300 | £12,300 | £12,300 |
| Annual exemption for most trustees and personal representatives | £6,150 | £6,150 | £6,150 |
| Rate for gains within the basic rate band | 10% | 10% | 10% |
| Rate for gains above the basic rate band | 20% | 20% | 20% |
| Gains on residential property (that do not qualify for private residence relief) within the basic rate band | 18% | 18% | 18% |
| Gains on residential property (that do not qualify for private residence relief) above the basic rate band | 28% | 28% | 28% |
| Rate for gains subject to Business Asset Disposal Relief | 10% | 10% | 10% |
| Lifetime limit for gains subject to Business Asset Disposal Relief | £1,000,000 | £1,000,000 | £1,000,000 |
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...
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...
Business News
