1031 exchange and cap gains on US property sale

Hello- I have lived in the UK since 2015 and will be selling my US property next year. In order to defer cap gains in the US I would like to do a 1031 exchange into an Ares REIT fund. How will this be treated under UK capital gains? Will this also defer the gain?

I’m also interested in a reply to this question!

Hi Npetiton,
We cannot provide financial advice.  
You would still be chargeable to capital gains tax in the UK on the disposal of the US property, as a UK resident.  
There is a calculator at Tax when you sell property.  
You would be required to report the capital gain in a self assessment tax return.  
Under the terms of Self Assessment, we do not provide an official exchange rate and the onus is on the individual to use a just and reasonable exchange rate for
each acquisition and disposal.  
For your convenience, there are exchange rates at Exchange rates from HMRC in CSV and XML format and for older rates at Foreign exchange rates and spot rates: 1 January 1989 to 31 March 2009.
You are free to use any of the supplied rates or one of your own choosing.  
You may wish to consider the remittance basis, guidance can be found at Residence, domicile and the remittance basis: RDR1
Thank you.