SolvedSection 70 | ATED: annual chargeable amount
From legislation.gov.uk
(1)In section 99 of FA 2013 (amount of tax chargeable), in the table in subsection (4), for the last four entries substitute—
| £23,350 | More than £2 million but not more than £5 million. |
| £54,450 | More than £5 million but not more than £10 million. |
| £109,050 | More than £10 million but not more than £20 million. |
| £218,200 | More than £20 million. |
(2)The amendment made by subsection (1) has effect for the chargeable period beginning on 1 April 2015 and, subject to section 101 of FA 2013, for subsequent chargeable periods.
(3)Section 101(1) of FA 2013 does not apply in relation to the chargeable period beginning on 1 April 2015.
(4)Accordingly, the Treasury is not required to make an order under section 101(5) of FA 2013 in respect of that period.