# The Annual Tax on Enveloped Dwellings (Indexation of Annual Chargeable Amounts) Order 2014, Note: Explanatory note


(This note is not part of the Order)
This Order changes the annual chargeable amounts of the Annual Tax on Enveloped Dwellings. Section 99(4) of the Finance Act 2013 (c. 29) sets out the annual amounts of tax chargeable. Section 101(5) of that Act provides for the indexation of the annual chargeable amounts. This Order gives effect to the indexation increase of the annual chargeable amounts for the chargeable period 1st April 2014 to 31st March 2015.
The rates of tax charged for each chargeable period beginning on or after 1 April are determined by reference to the “all items” Consumer Prices Index (CPI) as published by the Office of National Statistics.
The revised rates of tax are found by increasing the previous amounts by the September 2013 CPI and rounding down to the nearest multiple of £50. The September 2013 “all items” Consumer Prices Index as published by the Office of National Statistics was 2.7%.
Regulation 2 sets out the revised amounts by reference to the taxable value of the interest.
A Tax Information and Impact Note has not been prepared for this instrument as it gives effect to previously announced policy and relates to routine changes to rates to a predetermined indexation formula.

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Source: https://www.legislation.gov.uk/uksi/2014/854/note (the official version)
Page: https://openlegislation.uk/annual-tax-on-enveloped-dwellings-indexation-of-annual-chargeable-amounts-order-2014/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.