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120 UK Tax Basics - Young Adults Guide to Withholding and Deductions Practice Questions (2026)

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Full Question List

  1. Question 1

    What is the UK personal allowance for the 2025/26 tax year?

  2. Question 2

    Can you transfer your unused personal allowance to your spouse?

  3. Question 3

    What is the higher rate threshold for the 2025/26 tax year?

  4. Question 4

    What is the standard rate of income tax in the UK?

  5. Question 5

    At what income level does the additional rate of tax apply?

  6. Question 6

    Does the personal allowance reduce for high earners?

  7. Question 7

    What is the marriage allowance benefit per year?

  8. Question 8

    Can you use your spouse's unused allowance automatically?

  9. Question 9

    What happens if you earn above the additional rate threshold?

  10. Question 10

    How many tax brackets are there in the UK system?

  11. Question 11

    What does PAYE stand for?

  12. Question 12

    Who is responsible for collecting PAYE tax?

  13. Question 13

    What is a PAYE reference number?

  14. Question 14

    How often does PAYE tax get deducted from wages?

  15. Question 15

    What is a tax code and who assigns it?

  16. How many did you know?

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  17. Question 16

    Why might your tax code change during a tax year?

  18. Question 17

    Can you check if your PAYE calculation is correct?

  19. Question 18

    What should you do if you change employer during the year?

  20. Question 19

    What is National Insurance in the UK?

  21. Question 20

    What is the employee National Insurance threshold?

  22. Question 21

    What is the current employee National Insurance rate?

  23. Question 22

    At what income does the National Insurance rate change?

  24. Question 23

    Do self-employed people pay National Insurance?

  25. Question 24

    What is the self-employed Class 2 contribution?

  26. Question 25

    What are Class 4 National Insurance contributions?

  27. Question 26

    Do National Insurance contributions build your State Pension entitlement?

  28. Question 27

    Can you pay voluntary National Insurance contributions?

  29. Question 28

    What benefits does National Insurance help fund?

  30. Question 29

    Define a tax bracket in simple terms

  31. Question 30

    What is the basic rate tax bracket range?

  32. How many did you know?

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  33. Question 31

    What is the higher rate tax bracket?

  34. Question 32

    Does the UK use progressive or flat tax rates?

  35. Question 33

    What is marginal tax rate?

  36. Question 34

    Can your earnings move you between tax brackets?

  37. Question 35

    What percentage do additional rate taxpayers pay?

  38. Question 36

    How do you calculate tax on mixed income brackets?

  39. Question 37

    Are Scotland's tax brackets different from England's?

  40. Question 38

    What is the effect of tax brackets on financial planning?

  41. Question 39

    Do you pay tax on all income types the same way?

  42. Question 40

    Why is knowing your tax bracket important?

  43. Question 41

    What is a tax deduction?

  44. Question 42

    What are tax reliefs in the UK?

  45. Question 43

    Can employees claim work-related expenses?

  46. Question 44

    What is the flat rate expense claim for employees?

  47. Question 45

    Can self-employed people claim business expenses?

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  49. Question 46

    What types of self-employed expenses are allowable?

  50. Question 47

    Can you claim capital allowances on equipment?

  51. Question 48

    What is the Marriage Allowance relief worth?

  52. Question 49

    How does the Married Couple's Allowance work?

  53. Question 50

    What is gift aid relief?

  54. Question 51

    What is an ISA in simple terms?

  55. Question 52

    How much can you pay into an ISA annually?

  56. Question 53

    What is a Cash ISA?

  57. Question 54

    What is a Stocks and Shares ISA?

  58. Question 55

    Can you hold multiple ISAs simultaneously?

  59. Question 56

    What is a Lifetime ISA and how much can you save?

  60. Question 57

    What is an Innovative Finance ISA?

  61. Question 58

    Do you pay tax on ISA interest or growth?

  62. Question 59

    Can you transfer money between different ISA types?

  63. Question 60

    What happens to unused ISA allowance each year?

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  65. Question 61

    Who is eligible to open an ISA?

  66. Question 62

    Why are ISAs popular for tax planning?

  67. Question 63

    What is Self-Assessment in the UK?

  68. Question 64

    Who needs to do Self-Assessment?

  69. Question 65

    When is the Self-Assessment tax return deadline?

  70. Question 66

    What is the Self-Assessment tax year?

  71. Question 67

    Can you file Self-Assessment online?

  72. Question 68

    What happens if you miss the Self-Assessment deadline?

  73. Question 69

    Do you pay tax during Self-Assessment year?

  74. Question 70

    What records should you keep for Self-Assessment?

  75. Question 71

    Can you amend a Self-Assessment return after filing?

  76. Question 72

    What is a notice to file from HMRC?

  77. Question 73

    How are employment bonuses taxed in the UK?

  78. Question 74

    What is a P11D form used for?

  79. Question 75

    Are benefits in kind taxable?

  80. How many did you know?

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  81. Question 76

    What is the company car tax allowance?

  82. Question 77

    Is employer pension contribution taxable?

  83. Question 78

    How are stock options taxed as an employee?

  84. Question 79

    What is termination pay and how is it taxed?

  85. Question 80

    Can you negotiate tax-free employment benefits?

  86. Question 81

    How is savings interest taxed?

  87. Question 82

    What is the Personal Savings Allowance amount?

  88. Question 83

    How is dividend income taxed?

  89. Question 84

    What is the UK dividend allowance?

  90. Question 85

    What is the dividend tax rate for basic rate taxpayers?

  91. Question 86

    How are bond and gilt interest taxed?

  92. Question 87

    Is foreign investment income taxable in UK?

  93. Question 88

    What tax reliefs apply to savings?

  94. Question 89

    How are fixed-rate bonds taxed?

  95. Question 90

    Why invest in ISAs over regular savings accounts?

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  97. Question 91

    How is rental income taxed?

  98. Question 92

    What property expenses can you deduct from rental income?

  99. Question 93

    What is furnished holiday let relief?

  100. Question 94

    How is property depreciation handled for tax?

  101. Question 95

    Is mortgage interest relief available on buy-to-let?

  102. Question 96

    When is rental income from lodgers taxable?

  103. Question 97

    How is loss on rental property handled?

  104. Question 98

    What is the Principal Private Residence relief?

  105. Question 99

    Do you pay tax when selling a rental property?

  106. Question 100

    What records must you keep for rental income?

  107. Question 101

    How much can you contribute to a pension tax-free?

  108. Question 102

    What is the current annual pension allowance?

  109. Question 103

    Can pension contributions reduce taxable income?

  110. Question 104

    What is the Lifetime Allowance for pensions?

  111. Question 105

    Are pension withdrawals taxed?

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  113. Question 106

    What are the Marriage Allowance eligibility requirements?

  114. Question 107

    How do you claim Marriage Allowance?

  115. Question 108

    Can you backdate Marriage Allowance claim?

  116. Question 109

    What are Child Tax Credits?

  117. Question 110

    How are working tax credits different from income tax?

  118. Question 111

    What are allowable business expenses?

  119. Question 112

    Can you deduct home office costs?

  120. Question 113

    What is the home office fixed rate amount?

  121. Question 114

    Can you claim training and education costs?

  122. Question 115

    What is Capital Gains Tax?

  123. Question 116

    What is your Annual Exempt Amount for capital gains?

  124. Question 117

    What is the capital gains tax rate?

  125. Question 118

    What is Inheritance Tax and when is it charged?

  126. Question 119

    What is the Inheritance Tax nil-rate band?

  127. Question 120

    What is VAT and who must register for it?

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