HMRC have updated their technical guidance on the annual tax on enveloped dwellings (ATED) (24 November 2022).
“Paragraph 41A3 ‘Homes for Ukraine’ Scheme has been updated to clarify that reliefs will continue to be available from 1 April 2022 for a qualifying individual where a single dwelling is used under the scheme. A new paragraph 41A4 has been included to tell you that a non-qualifying individual who occupies a single dwelling will not be able to claim relief under the scheme.”
The overall guidance is arranged under the following headings:
- The charge to tax
- Adjustment of amount charged
- Chargeable interests and “single-dwelling interest”
- Meaning of “dwelling”
- Acquisitions and disposals
- New dwellings, conversions, demolition, etc.
- Alternative property finance
- Administration and payment of tax
- Application of provisions
- Supplementary provisions
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Property Investment, by Satwaki Chanda, is a major work for serious property investors and their professional advisers. The text leads the reader through the cycle of property ownership, from acquisition to eventual disposal. At each stage, the complex tax issues are clearly explained and fully illustrated.