Barnard Castle Phone: 01833 630400 Shotley Bridge Phone: 01207 507000

Tax Rates & Allowances

Capital Taxes

Enveloped Dwellings

The annual tax on enveloped dwellings (ATED) applies where a residential property located in the UK is owned by a non-natural person such as; a company, partnership with a corporate member or a collective investment scheme. There are a large number of reliefs and exemptions from the charge, but where such a relief does not apply the ATED charge must be paid by 30 April within the year at the following rates:

Property value £Annual charge 2013/14 £Annual charge 2014/15 £
Up to 2,000,000 Nil Nil
2,000,001 - 5,000,000 15,000 15,400
5,000,001 - 10,000,000 35,000 35,900
10,000,001 - 20,000,000 70,000 71,850
Over £20,000,000 140,000 143,750

From 1 April 2015 the ATED charge is to be extended to properties with value of £1m to £2m. Then from 1 April 2016 the ATED charge will be extended to properties worth £500,001 to £1 million. The 15% rate of Stamp Duty Land Tax on such properties worth over £500,000 comes into effect from 20 March 2014 - see below.

Capital Gains Tax

The rates and annual exemption for capital gains tax are as follows:

2013/14 (£)2014/15 (£)
Annual exemption £11,000 £11,100
Annual exemption for most trustees and personal representatives £5,500 £5,550
Rate for gains within the basic rate band 18% 18%
Rate for gains above the basic rate band 28% 28%
Rate for gains subject to entrepreneurs" relief 10% 10%
Lifetime limit for gains subject to entrepreneurs" relief £10 million £10 million

Newsflash

2014 Teesdale Business Awards

Butler and Gee were once again proud to sponsor and support the Teesdale Business awards held in February 2015. The awards are a fantastic way to recognise the success of local entrepreneurs in various different fields and sectors. The ceremony...

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Our Offices

  •  

    7 Newgate
    Barnard Castle
    County Durham
    DL12 8NQ

  • Shotley Bridge Office

     

    7 Front Street
    Shotley Bridge
    Consett
    County Durham
    DH8 0HH 

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