Well done!

You’ve now completed Session 3 of this Unit - well done!

By working through this Session, you have learned all about:

  • Taxation in the UK
  • Current guidelines regarding income tax
  • Current guidelines regarding National Insurance
  • Current guidelines regarding Value Added Tax (VAT).

In the final Session of this Unit, you will learn all about the importance of keeping financial records. Before you go, why not test your learning so far with another quick Quiz?

Quiz

Use your mouse to click and drag the correct words to complete the following sentences:

  • 20
  • Value
  • National
  • Income
  • tax is paid on the money we earn.
  • VAT stands for Added Tax. The current standard rate of VAT is %.
  • Self-employed people will make Insurance Contributions when they earn more than £5,965 a year.