Rebasing

ATED-related gains and losses are normally calculated without taking account of changes in the property's value before it came within the scope of Annual Tax on Enveloped Dwellings (ATED). If the property was held on either 5 April 2013 or 5 April 2015 or 5 April 2016 and ATED has been payable on it, then gains may be 'rebased' to one of those dates. A property worth more than £2 million on 1 April 2012 (or when it was acquired between that date and 5 April 2013) will be rebased to 5 April 2013. A property worth between £1 million and £2 million on 1 April 2012 (or when it was acquired between that date and 5 April 2015) will be rebased to 5 April 2015. A property worth between £500,000 and £1 million on 1 April 2012 (or when it was acquired between that date and 5 April 2016) will be rebased to 5 April 2016. In some circumstances it may be beneficial not to rebase. If you do not want to rebase to 5 April 2013 or 5 April 2015 or 5 April 2016, you must make an election not to rebase by ticking the box. For further guidance follow the link below.  

Capital Gains Tax on high value residential property