The plots of land have not been in use since i purchased them.
Hi again.You will pay Capital Gains Tax on any profit you make from the sale of the plots of land you own.The first £11,100 of gains an individual makes in the current tax year will be tax free.There are two rates of CGT, 18% and 28%. The rate or combination of rates that you will pay will be dependent on the sum of your income and the net taxable gains in the tax year you make the gains. Take a look at the link below for information on how how much CGT will be payable at each rate, if any:https://www.gov.uk/capital-gains-tax/work-out-your-capital-gains-tax-rate
If you sold the plots of land over several different tax years, you might have less gains taxable at 28% but that depends on the tax rules being as they are now in the future. The Chinese company may want to buy them all at once , of course.I hope this helps but let me know if you have any further questions.
If i roll over the profit into a property will i still pay tax or will that not make any difference at all to the tax i pay,i am a basic rate tax payer