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Income Tax

Income Tax. 1. At what age to do you receive your national insurance number? . 18 21 16. 2. What percentage of your gross pay above the contribution threshold goes towards National Insurance ?. 10 % 11 % 12 %. 3 . What does your Tax Code tell you? . How much you have earned that year

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Income Tax

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  1. Income Tax Tax quiz Money Works: Level 2 Topic 4

  2. 1. At what age to do you receive your national insurance number? • 18 • 21 • 16 Tax quiz Money Works: Level 2 Topic 4

  3. 2. What percentage of your gross pay above the contribution threshold goes towards National Insurance? • 10 % • 11 % • 12 % Tax quiz Money Works: Level 2 Topic 4

  4. 3. What does your Tax Code tell you? • How much you have earned that year • How much you can earn before tax • How much tax you have paid Tax quiz Money Works: Level 2 Topic 4

  5. 4. What does BACS stand for? • Bankers Automated Clearing System • Bankers Automated Calling System • Bankers Automated Clearing Scenario Tax quiz Money Works: Level 2 Topic 4

  6. 5. What is the name of the largest Tax that is taken off your pay? • Council tax • Income tax • National Insurance Tax quiz Money Works: Level 2 Topic 4

  7. 6. Which is biggest? • Gross pay • Net pay Tax quiz Money Works: Level 2 Topic 4

  8. 7. What does PAYE stand for? • Pay All You Earn • Pay At Your Economy • Pay As You Earn Tax quiz Money Works: Level 2 Topic 4

  9. 8. What form do you receive when you stop working for someone? • P11D • P45 • B12 Tax quiz Money Works: Level 2 Topic 4

  10. 9. What form should you receive at the end of the financial year? • P11D • P45 • P60 Tax quiz Money Works: Level 2 Topic 4

  11. 10. What is another name for a Pension contribution? • Supertax • National Insurance • Superannuation Tax quiz Money Works: Level 2 Topic 4

  12. ANSWERS Tax quiz Money Works: Level 2 Topic 4

  13. 1. At what age to do you receive your national insurance number? • 18 • 21 • 16 Tax quiz Money Works: Level 2 Topic 4

  14. 2. What percentage of your gross pay goes towards National Insurance? • 10 % • 11 % • 12 % Tax quiz Money Works: Level 2 Topic 4

  15. 3. What does your Tax Code tell you? • How much you have earned that year • How much you can earn before tax • How much tax you have paid Tax quiz Money Works: Level 2 Topic 4

  16. 4. What does BACS stand for? • Bankers Automated Clearing System • Bankers Automated Calling System • Bankers Automated Clearing Scenario Tax quiz Money Works: Level 2 Topic 4

  17. 5. What is the name of the largest Tax that is taken off your pay? • Council tax • Income tax • National Insurance Tax quiz Money Works: Level 2 Topic 4

  18. 6. Which is biggest? • Gross pay • Net pay Tax quiz Money Works: Level 2 Topic 4

  19. 7. What does PAYE stand for? • Pay All You earn • Pay At Your economy • Pay As You earn Tax quiz Money Works: Level 2 Topic 4

  20. 8. What form do you receive when you stop working for someone? • P11D • P45 • B12 Tax quiz Money Works: Level 2 Topic 4

  21. 9. What form should you receive at the end of the financial year? • P11D • P45 • P60 Tax quiz Money Works: Level 2 Topic 4

  22. 10. What is another name for a Pension contribution? • Supertax • National Insurance • Superannuation Tax quiz Money Works: Level 2 Topic 4

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