These resources will be removed by end of Summer Term 2025.
Lesson details
Key learning points
- Income tax is paid on any money earnt after your personal tax allowance
- National insurance is also only paid if you earn more than a certain amount
- Tax is paid on luxury goods. This is referred to as VAT.
Keywords
Income Tax - Income Tax is tax that you pay on your income.
National Insurance - National Insurance is a tax on income which qualifies you to certain benefits, such as the State Pension and maternity pay.
Value Added Tax (VAT) - Value Added Tax (VAT) is a tax that is added to most products and services sold by businesses.
Common misconception
Income Tax is paid on the entire salary.
Income Tax is only applied to the amount earned above the personal allowance.
To help you plan your year 8 financial education lesson on: Taxation, download all teaching resources for free and adapt to suit your pupils' needs...
To help you plan your year 8 financial education lesson on: Taxation, download all teaching resources for free and adapt to suit your pupils' needs.
The starter quiz will activate and check your pupils' prior knowledge, with versions available both with and without answers in PDF format.
We use learning cycles to break down learning into key concepts or ideas linked to the learning outcome. Each learning cycle features explanations with checks for understanding and practice tasks with feedback. All of this is found in our slide decks, ready for you to download and edit. The practice tasks are also available as printable worksheets and some lessons have additional materials with extra material you might need for teaching the lesson.
The assessment exit quiz will test your pupils' understanding of the key learning points.
Our video is a tool for planning, showing how other teachers might teach the lesson, offering helpful tips, modelled explanations and inspiration for your own delivery in the classroom. Plus, you can set it as homework or revision for pupils and keep their learning on track by sharing an online pupil version of this lesson.
Explore more key stage 3 financial education lessons from the Tax, insurance and inflation unit, dive into the full secondary financial education curriculum, or learn more about lesson planning.
Equipment
Content guidance
- Depiction or discussion of sensitive content
Supervision
Adult supervision recommended
Licence
Lesson video
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