Today's Rocket Words: Your 5 words and meanings to learn

income

money coming in that you can use to live, save, or plan

income tax

Income Tax is a tax you pay on the money you earn from work or other sources (like pensions or rental income).

National Insurance

money taken from your pay by government to help fund public services like the NHS

pension

money you save during your working life to support you in retirement

tax code

A combination of numbers and letters used by your employer to calculate how much Income Tax to take from your wages.

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