Tax on sale of US ETF (Exchange Traded Fund)

Does anyone know how the UK taxes gains form the sale of a US ETFfor a US citizen, resident in the UK? ie someone who will be taxed on their worldwide income by both the US and the UK?

Is an ETF treated like a single stock or like a mutual fund?

If I was to buy a US EETF that invested only in UK companies or UK Government bonds would this be taxed by HMRC like a UK unit trust?

If I was to buy a US EETF that invested only in UK companies or UK Government bonds would this be taxed by HMRC like a UK unit trust?

I think this is clarified nicely on this Stock Exchange webpage, where you will see :-

What costs are involved for ETF transactions?
ETF transactions are subject to the same fees as share transactions. They are subject to income and capital gains tax in the same way as equity and there is a small management charge levied by the issuer.

I disagree, a gain on sale of a US domiciled ETF is more than likely to be taxed by the UK as an offshore income gain.

Conversely a UK or Irish (or any other non-US domiciled EFT) would be taxed as a PFIC by the US.

Consequently ETF's tend to have significant tax disadvantages for a US person in the UK.

I disagree, a gain on sale of a US domiciled ETF is more than likely to be taxed by the UK as an offshore income gain.

Conversely a UK or Irish (or any other non-US domiciled EFT) would be taxed as a PFIC by the US.

Consequently ETF's tend to have significant tax disadvantages for a US person in the UK.

Thanks Guya that's sort of what I figured. However I did find this rather cryptic paragraph  on the taxation of non-UK ETF/iShares at this website

http://www.investmentguide.co.uk/offetf.htm

it seems to say that if the non-UK ETF invests only in UK shares HMRC treats it  like a UK unit trust, and presumably if it was a US EFT the IRS wouldn't apply PFIC rules. Is this a way to satisfy both taxation bodies and pay capital gains rather than income tax on the gains.

"Tax: Not deducted although some of the underlying shares may have had a withholding tax deducted from the income if you are entitled to income. If you are a UK resident and a taxpayer you are liable to pay tax on the income. Basic taxpayers pay 20% tax; higher rate taxpayers pay 40%. If the fund invests wholly in UK shares, the dividends have tax deducted at source and your income tax position is exactly the same as with a UK authorised unit trust or OEIC. If the fund accumulates more than 15% of its income UK residents are liable to income tax instead of capital gains tax on any gain you make when you dispose of your units or shares."