todays close, page-23

CGT is essentially just another form of income tax. If you've owned the investment for more than 12 months, you have to pay tax on 50% of the profit and it's simply added to your other income. If you've owned it for less than 12 months you have to pay it on 100% of the profit. With a CGT loss you can only offset a CGT profit, so unless you have a CGT profit it won't help you in the short term. You still claim it, however, as it will be stored up and offset any future CGT losses.

regarding the question you asked CGT applies to investment houses in the same way as shares. The difference is if the house was your residence there is no capital gains applicable. Paying off a portion of your loan is not a CGT event. A CGT event is only when you sell an investment for either a profit or a loss. Paying interest is a tax deduction, but the sum of the loan itself has no bearing on tax.

But don't listen to me. Go see an accountant!!!!