Starter quiz
- Alex found a £5 note on the side of the road. Sam earned £5 helping a neighbour with their garden. Who do you think feels most proud of their £5?
- Alex
- Sam ✓
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- True or false: You should lend money to anyone who asks for it
- True
- False ✓
- Jun has spent all his pocket money but now he has seen a book he would really like. What could Jun do?
- Save up his pocket money over the next few weeks. ✓
- Borrow the money and spend his pocket money on sweets again.
- Borrow the money and pay it back from his pocket money. ✓
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- Jacob is getting a new coat for school. Which of these describe what the coat needs to be?
- Warm ✓
- His favourite colour.
- Waterproof ✓
- Worn by his favourite celebrity.
-
- Jacob would like the same make of coat worn by his favourite celebrity. We can say that the celebrity is an ______.
- 'influencer' ✓
- Match these advertising phrases with the descriptions.
- Rhetorical question⇔Would you like to jump as high as a gazelle? ✓
- Exaggeration⇔The best trainers in the world!. ✓
- Powerful vocabulary⇔Hi-tec grips maximise your speed. ✓
- Appealing to your feelings⇔Save the planet with these trainers. ✓
Exit quiz
- Which of these would be funded by local taxes?
- Children’s playground ✓
- Local football club
- Village primary school ✓
- Recycling collections ✓
-
- What is paid for by the government in your school?
- Books ✓
- Heating the school ✓
- Maths equipment ✓
- School uniform
-
- How is the National Health Service or NHS mainly funded?
- Charity collections.
- Government money raised by taxes. ✓
-
- Value Added Tax or VAT is added on to goods that we ______.
- Want ✓
- Need
-
- On which of these do you think VAT is added?
- Children’s shoes
- Chocolate biscuits ✓
- Takeaway pizza ✓
- Potatoes
- Crisps ✓
-
- Someone earns £25,000 of taxable pay. If they pay income tax at 20%, how much money will they have left to take home?
- '£20,000' ✓
Worksheet
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Presentation
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Video
Lesson Details
Key learning points
- Taxes on earnings pay for education, the NHS and other things like pensions.
- Some items considered wants rather than needs have VAT added.
- The government sets the level of taxes.
Common misconception
This lesson includes discussion of and calculation of percentages which can be a challenge for some children.
Teach the lesson after you've covered percentage in maths. Alternatively, adapt the lesson to remove the aspects of percentage that don't suit.
Keywords
Tax - Tax is money that you have to pay to the government so that it can pay for public services. Tax is also often paid on goods and services.
Vat - VAT or Value Added Tax is a tax that is added to the price of some goods and services.
Service - A service is a business whose work involves doing something for customers but not producing goods.
Percentage - A percentage is a part or share of the whole. It is expressed as if it is part of a total that is 100.
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