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Glossary · General

Asset

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By the Money Guide editorial team · Editorial responsibility: Kaiser Khan, Editorial Director · How we check facts

Definition: Anything you own that has financial value — cash, property, investments, pensions, vehicles, valuables.

Assets are relevant for tax (Capital Gains Tax, Inheritance Tax), for benefit means tests (Universal Credit, Pension Credit), and for probate. Different rules define which assets count for each test.

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