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Words that relate to TAXES - Coggle Diagram
Words that relate to TAXES
Rates
Rates are liable to change, and ultimately determine how much tax you pay.
Increases
Tax increases are unpopular and large ones can sometimes make the government unpopular.
Cuts
Tax Cuts are always popular with the public.
Government
Taxes are paid to the government
HM Treasury
The people who carry out the distribution of taxes.
Chancellor
The politician who decides how to spend the taxes and writes up the Budget which is then read to the House of Commons.
Income
You get taxed on your salary.
Decisions
Decisions have to be made on the best way to spend the taxes.
Citizen
Every single British citizen has to pay taxes to the Government
Year
The tax year lasts from April to April.
Returns
A tax return is used to calculate your tax liability
Brackets
Tax Brackets are the divisions at which tax rates change in a progressive tax system.
Necessary
Taxes are necessary because they are the money that the government invests in important things like healthcare, public transport and the armed forces.
Money
Taxes are money paid to the government.
Parliament
New taxes and changes to taxes are often debated and voted upon in Parliament.
Charities
TaxAid and Tax Help for Older People are available to support people facing debt because of tax.
Hikes
Tax Hikes are a sudden or increase in tax.
Taxpayers
Taxpayers are the people who pay tax.
Millionaires
Millionaires tend to be controversial figures when it comes to tax, as they are often accused of avoiding paying tax, despite being the richest people in society.
HM Revenue & Customs
The people who are in charge of collecting taxes