Today Your Child Learned…
Dear Parent & Guardian,
We are excited to share that your child has completed the following PSHE lesson. Check out our overview and top tips to support their development…
Today’s PSHE Lesson
Tax (National Insurance- Why We Pay Tax)
This isn’t a topic that many of us raise with our children, finding child-friendly information to explain what UK taxes are can be a mystery. Most of us have to pay taxes when we start working. Discuss with your child what our taxes are used for. Talking about taxes and explaining how they work, what they do and why we have to pay them is a long overdue lesson!
What We Covered In The PSHE Lesson
Here’s what we went through today…
- Tax is a compulsory charge imposed upon a taxpayer by the government in order to fund various public expenditures like education, police, refuse disposal and more.
- Why we have to pay taxes, how we pay income tax through our salary and what happens if we don’t pay tax.
- What Income Tax is, that the rates of tax that we pay depend on our income. If you earn less than £12,500 per year, as of November 2019, you do not pay income tax.
- There are other necessary tax payments like Council Tax.
- What interest, loan, debt and tax means.
How You Can Help From Home
Here’s what you can talk about during dinner…
- Talk to your child about what taxes you pay and how and why these are paid.
Go Above & Beyond
Here are some other ideas to support your childs PSHE lessons…
- Check your child understands what the terms interest, loan, debt and tax mean.
- Explain the services that you and your family use that are paid for by taxes.
- Explain that some services may not be used by some people, for instance education if they haven’t got children.
- Show your child a payslip or example of where you have taxes deducted from your salary to pay for the services that you use, highlighting how income tax comes from your pay.
- Discuss Council Tax and what this is for and how it’s paid.
When it comes to your child’s development, teachers and parents are better together! By aligning our goals and education techniques, we can better realise our vision of positively preparing your child for their future.