CGT on sale of a carpark

I am BC and will move back to UK from Hong Kong on 30 Apr 2024 (arrival date). Was not born nor live/work in UK before. Currently I am Hong Kong tax resident as I live, work and pay tax in Hong Kong for all years. The only UK income I have is receiving UK bank interest income since Sep 2023. I believe I don't pass statutory residence test for tax year 2023/24 hence not uk tax resident for 2023/24. However, I expected to become UK tax resident in 2024/2025. Recently I have sold my carpark in Hong Kong. The sales agreement is signed on March 2024 and the sales proceeds will be received on 18 April 2024. May I know which date shall be used to calculate capital gain tax (if applicable), i.e. date of sales agreement or date of money receipt? Thanks!

Hi,

Generally speaking, where the disposal of an asset is subject to contract the date of disposal for capital gains tax purposes is as follows:

The time at which the disposal (or acquisition) is made is the time the contract is made. It is not, if different, the time at which the asset is either conveyed or transferred.

Where the contract is conditional (and in particular if it is conditional on the exercise of an option) the date at which the disposal takes place is when the condition is satisfied.             

For your scenario this would be March 24.

Thank You.