Hi all,
My Chinese client who is UK resident for tax purposes has sold her parents Chinese residential property to the Chinese authorities. She has confirmed that no Chinese tax was due because of the compulsory nature of the disposal.
She will therefore be liable to UK CGT on this disposal.
I am wondering if the rates of tax would be same as for UK residential properties at 18% & 28%
Thoughts appreciated.
Thanks
Simpsonite
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