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Draft ATED regulations made available for comment

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HMRC has published for comment by 27 August 2013 two sets of draft regulations specifying the types of arrangements involving the new annual tax on enveloped dwellings (ATED) which HMRC will require to be disclosed under the disclosure of tax avoidance schemes (DOTAS) rules, together with details of the relevant information and time limits. FA 2013 adds ATED to the list of taxes to be covered by DOTAS.

Legislation in FA 2013 introduced the new ATED, extended CGT to properties within the scope of the new tax, and provided for specific reliefs from the higher rate of SDLT. This note was updated in July 2013 to reflect the addition of arrangements involving ATED to the DOTAS regime, where the trigger for a disclosure falls after 12 December 2012.

Issue: 1178
Categories: News , Private client taxes