Income, Deductions and Taxation
Citizenship · Year 7 · Financial Literacy and Managing Money · 3o Periodo

Income, Deductions and Taxation

Understand the various sources of income, how to read a basic payslip, and the purpose of taxation and National Insurance in the UK.

National Curriculum Attainment TargetsDfE National Curriculum Citizenship Key Stage 3: Subject content;The functions and uses of money, the importance and practice of budgeting, and managing risk.

About This Topic

Understand the various sources of income, how to read a basic payslip, and the purpose of taxation and National Insurance in the UK.

Key Questions

  1. How do individuals generate income?
  2. What is the purpose of income tax and National Insurance?
  3. How do taxes contribute to public services and society?

Active Learning Ideas

See all activities→

Activities & Teaching Strategies

See all activities

More in Financial Literacy and Managing Money

The Functions and Uses of Money

Explore the history of money, its primary functions as a medium of exchange, and the different forms it takes in modern society.

2 methodologies

The Importance of Budgeting

Learn how to distinguish between needs and wants, track personal expenditure, and create a realistic budget to manage personal finances.

2 methodologies

Saving and Financial Planning

Examine the benefits of saving money, the concept of interest, and how to set short-term and long-term financial goals.

2 methodologies

Borrowing, Credit and Debt

Investigate the different ways people borrow money, the cost of credit, and the consequences of unmanageable debt.

2 methodologies

Managing Financial Risk and Fraud

Identify common financial risks, including scams and identity theft, and explore strategies to protect personal data and money.

2 methodologies