Payslips

This funds the NHS, Schools, Armed Services etc..

• Income tax

• National Insurance

• Pension

• Student grant

This funds benefits, State pensions

• Income tax

• National Insurance

• Pension

• Student grant

This gives money back to you when you are retired from work

• Income tax

• National Insurance

• Pension

• Student grant

This pays back money borrowed to do a higher education qualification

• Income tax

• National Insurance

• Pension

• Student grant

How much tax can you earn without paying income tax?

• £15,000

• £10,000

• £12,570

• £8,750

How much tax do you pay on earning between £12,570 and £50,270​

• 5%

• 10%

• 20%

• 40%

How much tax do you pay on earning between £50, 271 - £125, 140​

• 45%

• 10%

• 20%

• 40%

How much tax do you pay on earning over £125, 140​

• 45%

• 50%

• 20%

• 40%

What % national insurance would you pay on any earnings that exceed £242 per week

• 5%

• 8%

• 15%

• 20%

What age will you be automatically enrolled onto paying for a pension when earning over £10,000 a year?

• 18

• 21

• 22

• 30