Quizzes & Activities
Taxes (Quizlet Revision Activity)
- Level:
- AS, A-Level, IB
- Board:
- AQA, Edexcel, OCR, IB, Eduqas, WJEC
Last updated 14 Mar 2019
Here is a selection of some of the important taxes in the UK and other countries. A great starter activity when revising taxation as part of fiscal policy.
Key term glossary
Apprenticeship Levy
Tax on payroll costs of large companies designed to fund increased training
Business rates
Tax on commercial property
Capital gains tax
Tax on returns that people earn from investments e.g. in stocks and housing
Carbon tax
Tax on emissions designed to promote switch to renewable energy
Corporation Tax
Tax on the profits of companies.
Council Tax
Tax levied by local authorities based on property values
Excise duties
Taxes on fuel, tobacco, alcohol and gambling
Income tax
Main direct tax on earned income
Inheritance tax
Tax collected on the property (estate) left by a person to heirs in a will
Landfill tax
Tax to discourage the disposal of waste
National insurance
Payroll tax paid by both employers and employees
Stamp Duty
Tax paid when commercial or residential property is bought
Sugar tax
Tax on high sugar drinks
Tobin Tax
Proposed tax on financial transactions, especially speculative currency transactions.
Value Added Tax
Indirect tax on suppliers of goods and services
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