The threshold for the ATED has been reduced to £500,000 from 1 April 2016. From that date a company that owns a UK residential property valued at more than £500,000 must pay an annual tax charge. There is an exemption for property let to third parties but that exemption must be claimed on the ATED annual return, which for 2016-17 is due by 30 April 2016. The important date for the value of the property is currently 1 April 2012 but another valuation will have to be taken at 1 April 2017. If you think this may affect you, then please contact us for more detailed advice and guidance.