Mortgage Terms Explained - Capital Gains Tax
|Money : Mortgages|
Tax - another tax!
Capital gains tax, which you might heard shortened to CGT, refers to a tax that is levied on the profits of a sale above a certain level.
CGT applies to more than properties - or real estate - and will also apply to investment profits above a certain level. For instance if you make a certain profit on shares each year you will also be liable to pay CGT.
That's why many people will realise some share losses towards the end of the year to bring them within the CGT level.
Questions about mortgages: