WorksheetsMoney talk
Total questions: 10
Worksheet time: 6mins
What does HMRC stand for?
Her Majesty's royal coinage
Her Majesty's revenue and change
Her Majesty's revenue and customs
At what age are you given a National Insurance number?
16 yrs
18 yrs
21 yrs
The tax year starts and ends in which month of the year?
January
April
September
At the end of the tax year, your employer will give you a form which shows your salary and the tax you have paid. What is the name of this form?
P60
P45
P20
Everyone is allowed to earn some money before they have to pay tax. What is this called?
Basic allowance
Allowed income
Personal Allowance
The tax you pay on the money you earn through your salary or wages, is called ____________ tax
Income
VAT
Stamp Duty
What do the letters PAYE stand for?
Pay a Yearly Earning
Pay as You Earn
What does the National Insurance Contribution pay for? Select all that apply
State pension
Unemployment benefits
Statutory Maternity pay
Statutory sick pay
NHS
On a payslip, the money you take home after you have paid tax and National Insurance is described as what?
Gross Pay
Net Pay
Your Pay
What is the tax code for a personal allowance of £12,570?
1257L
1000L
12570TX
