Glossary - Capital gains tax
Description
A tax on the profit made when selling or disposing of assets that have increased in value, such as property, shares, or business assets. It applies only to the gain, not the total sale price, and certain reliefs can reduce the amount owed.
Alternate Names
- CGT
- Investment gains tax
- Tax on realised gains
- Tax on asset disposal
- Profit on sale tax
- Disposal gains tax
- Asset sale tax
