Companies that own UK residential properties have under a month to revalue and tell HMRC if any are worth more than £500,000.
Under the Government’s Annual Tax on Enveloped Dwellings (ATED) rules, companies must revalue UK residential properties every five years.
The revaluation can be done by the owner or by a professional valuer and must be based on the value of the property on 1 April 2022, or the date of acquisition if this was after 1 April 2022.