Capital gains tax (CGT)
If the value of assets that you own increase in value, then you may need to pay Capital Gains Tax (CGT). For example, selling shares for more than you paid for them could involve paying some CGT. You get an annual allowance for capital gains and only pay CGT on any gain over this amount.
A capped mortgage is one with a maximum limit on the interest rate you'll have to pay during a special deal period.
This is a mortgage that comes with a cash sum at the beginning of the mortgage loan.
A channel normally concerns the journey of a customer and how they come across your business. You’ll often hear talk about channels in a marketing context as it’s the job of your marketing team to figure out how best to reach your customers. There are online channels, such as social media; offline channels like newspapers and magazines; and third-party channels, where you sell through an agent or intermediary. This is where strategies like omni- and multi-channel marketing can prove very useful. This kind of marketing allows businesses to put out common messages across lots of different channels, giving businesses a joined-up approach to marketing.
Chancery is a division of the High Court that deals in the administration of wills, probate and the execution of trusts.
This is the law that governs charities, including how they raise funds, choose projects and account for the money they collect.
Child Trust Fund
The Child Trust Fund (CTF) is a long-term savings and investment account for children. In December 2010, the Government decided to stop opening CTFs, but those which had already been set up by then are designed to make sure that your children have savings up until the age of 18.
An area of law affecting children. It can include legislation concerning family law, education and asylum.
If you receive unreasonably poor medical treatment, which potentially gives rise to a personal injury claim against the medical professional or institution responsible, then you have ‘suffered from clinical negligence’.
Cloud and Cloud-Based Software
The cloud allows people to access the same documents and files, wherever they are in the world and whenever they want to do so. This kind of technology has been rolled out to lots of new and existing programmes to allow members of a team to access and share systems all at the same time.
This is the use (or threat) of court proceedings by one business against another in relation to a dispute.
Commercial property law
This is the law that governs any premises occupied for business use.
This is the payment that’s made to a financial adviser for services that he or she provides, based on a percentage of the value of the investment or premiums paid. It’s paid to the adviser by the product provider. If your adviser takes a commission, you may not need to pay any fees.
An area of law built upon principles taken from previous cases rather than created by statutes enacted by Parliament.
Computer and IT law
This is the law that governs the use of computers, including the Computer Misuse Act 1990.
An area of law that governs the building of properties. It includes health and safety, dispute resolution and construction contracts.
Contents insurance covers the cost of replacing possessions lost or damaged due to unforeseen events, as detailed in the insurance policy.
A contract is a written or spoken agreement between two parties. For a contract to be in force there needs to be an offer, an acceptance, and a means of consideration (which means that something of value, either an object, a service or money, passes between the parties, and each party gives and receives consideration). Each party expects to carry out certain acts in return for the other party carrying out other acts.
When you opt to leave the State Second Pension (S2P) or State Earnings Related Pension Scheme (SERPS), this is known as contracting out. You’ll receive a rebate on your National Insurance contributions, which can be invested in a pension fund.
This is the process of transferring legal ownership of property from one person to another.
A conveyancing solicitor is the one will help you to buy or sell a property and give advice during the conveyancing process.
These are Bonds that are issued by companies when they need to borrow money. As an investment, they often offer higher rates of return than banks and building societies but with a varying amount of risk depending on the financial security of the company issuing the bond.
Corporate finance law
This is the law that governs the ways companies can raise funds to finance their activities.
The Consumer Prices Index (CPI) is the official rate of inflation in the UK: the rate at which the prices of goods are increasing. The index is published every month and measures the changes in price of a basket of items. Inflation affects everything from mortgages to pensions and is an important measure of calculating the cost of living. If you have invested your pension savings, for example, and your returns aren’t above the inflation rate, you could end up being in a worse situation financially. For the maximum financial benefit, try to ensure your pensions, savings, investments or anything else are in line with, or above, the rate of inflation.
This is the system used by banks and other loan companies to judge whether you're creditworthy when you apply to borrow money.
This is the area of the law relating to the treatment of offences deemed to be illegal by the state. If you break a law that has been created by the state, then you are a criminal.
Critical illness cover
This is an insurance policy that you take out so that you can rely on having a lump sum paid if you're diagnosed with a specified critical illness.