Further to our blog of the 2nd July 2015 where we reported on the HMRC’s plans to simplify claims for ATED relief we can now report that the HMRC has published the forms required to claim relief.
The Annual Tax on Enveloped Dwellings was introduced on 1 April 2013 and is a tax charged on companies or partnerships that hold property in the UK initially valued at more than £2m, although this has since been decreased and from April 2016 will include properties with a value in excess of £500,000.  However, relief is now available for properties that are used as part of a genuine business.
There are numerous situations in which relief from this tax is available and various forms are now available depending on the specific type of qualifying business, which can be quite daunting.  If you hold a property or a portfolio of properties via a company in the UK and would like to learn more regarding the possible relief available, here at Chesterfield we have the skills and knowledge gained through experience in order to assist, therefore please do not hesitate to contact us.