An item of value.

The annual interest rate charged on a balance to borrowers, or paid to investors.

Non-cash benefit of monetary value provided to an employee (which is then taxed as though it were income). Eg Health insurance if provided by employer.

A bond is a loan to a company or government that pays the investor (who purchases the bond) a fixed rate of return (interest) over a specific timeframe.

A tax on the profit when you sell (or dispose of) something (an asset) that’s increased in value.

How much an asset (eg a car) value decreases over time.

If you exit a mortgage agreement earlier than the agreed fixed period, you’ll likely be charge a fee to do so by the lender.

A fund is an investment that pools together money from lots of individuals. The fund manager then invests the money in a wide range of assets, such as shares, bonds and property. Each individual holds X unit(s) of the fund (rather than say investing directly in company shares).

A gilt is simply a word for a UK government bond (see bond definition above).

Income of all types before any taxes are deducted.

A department of the UK Government responsible for collecting taxes.

A scheme allowing individuals to hold cash, shares, and unit trusts free of tax on interest / dividends / capital gains earned.

The size of a mortgage in relation to the value of the property (expressed as a percentage or ratio).

A loan to purchase a property, secured against the value of that property.

Tax paid to contribute to state assistance (benefits) and state pension.

Income of all types AFTER tax deduction.

An insurance product that enables consumers to ensure repayment of credit if the borrower is unable to (eg death, becomes ill).

This is essentially re-sale value of an asset (eg a car), after a period of time.

A share in a company, this means you own a slice of it. If you buy a share, you become a shareholder and may receive a dividend. The share price may increase or decrease.

Tax paid in relation to the purchase of a property.

A tax payable on goods and services by the end customer.