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Finance Act 2014

Section 110: ATED Further Reduction in Threshold from 1 April 2016

7.Subsection (1) provides for an amendment to Part 3 of Finance Act 2013 (Annual Tax on Enveloped Dwellings).

8.Subsection (2) amends the threshold from more than £1 million to more than £500,000

9.Subsection (3) specifies the annual chargeable amount for residential properties valued at more than £500,000 but not more than £1 million as £3,500.

10.Subsection (4) provides for subsections (2) and (3) to come into effect for the chargeable periods beginning on or after 1 April 2016.

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