The tax levied on profits from the sale of capital assets. A long-term capital gain, which is achieved once an asset is held for at least 12 months, is taxed at a maximum rate of 20% (taxpayers in 28% tax bracket) and 10% (taxpayers in 15% tax bracket). Assets held for less than 12 months are taxed at regular income tax levels, and, since January 1, 2000, assets held for at least five years are taxed at 18% and 8%. Bloomberg Financial Dictionary
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capital gains tax ( CGT)
Tax paid on the profits or gains made from the sale of fixed assets.
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Capital Gains Tax ( CGT)
The tax an individual is liable to on realised capital gains which accrue in a year of assessment during any part of which the individual is resident in the UK. London Stock Exchange Glossary
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capital gains tax UK US noun [C or U] (ABBREVIATION CGT)
► TAX tax on the profits made from selling property or investments: »
Even the experts admit that calculating capital gains tax liabilities can be baffling.
Financial and business terms. 2012.