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Accountants in Medway - Sinden Thackeray Partnership

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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 2017/18 £ Annual charge 2018/19 £
Up to 500,000 Nil Nil
500,001 to 1,000,000 3,500 3,600
1,000,001 - 2,000,000 7,050 7,250
2,000,001 - 5,000,000 23,550 24,250
5,000,001 - 10,000,000 54,950 56,550
10,000,001 - 20,000,000 110,100 113,400
Over £20,000,000 220,350 226,950

*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:

2017/18 (£) 2018/19 (£)
Annual exemption £11,300 £11,700
Annual exemption for most trustees and personal representatives £5,650 £5,850
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.

 


Christopher Kember FMAAT is licensed and regulated by AAT under licence number 7213. AAT is recognised by HM Treasury to supervise compliance with the Money Laundering Regulations and Sinden Thackeray Partnership is supervised by AAT in this respect.