27. Annual tax on enveloped dwellings.

A tax called the 'annual tax on enveloped dwellings' ('ATED') is charged1 in respect of a chargeable interest2 if on one or more days in a 12-month chargeable period the interest is a single-dwelling interest with a value of more than £500,000, and a company, partnership or collective investment scheme meets the ownership condition with respect to the interest3.

The ATED charge in relation to properties held in corporate structures is:

  1.  

    (1)     £3,500 for properties worth more than £500,000 and up to £1 million;