ATED relief for investment property company

ATED relief for investment property

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My property company (invetsment company deriving BTL rental income) is about to purchase it's first rental property over the coming months. A Residential property for £650k. I am new to the (ATED) eneveloped dwellings compliance.

The property will be rented out on a commercial basis and will not at any time be occuiped by the owner/unconnected party. So i understand that i will be entitled to this relief.

On that basis, does that mean that the ATED tax due will be NIL (100% relief) if this relief is claimed in accordance to the above.

 

 

Replies (5)

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By David Ex
29th Aug 2022 15:04

If that’s what the law says, you’re all good.

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By ramesh garara
29th Aug 2022 15:31

I was mainly wandering as to whether this is full relief (100%). The regulation says that they'll be relief , but i can't find anywhere where its says the percentage of relief.

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Replying to ramesh garara:
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By Leywood
29th Aug 2022 15:35

ramesh garara wrote:

I was mainly wandering as to whether this is full relief (100%). The regulation says that they'll be relief , but i can't find anywhere where its says the percentage of relief.

Wondering surely?

So you can afford £650k to spend on a property, but £0 for professional advice?

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By Hugo Fair
29th Aug 2022 15:51

It's good to hear that you're intending to provide your residential property for use under the ‘Homes for Ukraine’ Scheme.

Of course, if that's not what you meant, you could appoint a professional adviser (I'd suggest *before* you start purchasing property)
... or you could start reading https://www.gov.uk/government/publications/annual-tax-on-enveloped-dwell... (sections 30-41 being possibly pertinent) and then no doubt end up appointing a professional adviser.

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Replying to Hugo Fair:
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By ramesh garara
29th Aug 2022 16:30

I'm seeing the appointed tax advisor on Thursday. I just want to get up to speed with things before i see him.

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