Annual Tax for Enveloped Dwellings (ATED) receipts have fallen by £32 million (18 percent) for the 2017/18 financial year, according to UK Government statistics.
This is at least partially due to many properties being ‘de-enveloped’. The number of recorded properties held in corporate structures now stands at 7,020, representing just 0.03 percent of all dwellings in the UK.
ATED was introduced in 2012 and initially levied on all properties with valued over £2 million and has since extended to properties valued over £0.5 million. HMRC predicted this would raise £80 million, however in 2017/18 it raised just £20 ...