Payslip Calculations - Student Loans, National Insurance, Income Tax with Examples

Included are a set of resources which can be used as part of a lesson on payslips and deductions. There is a focus on Income Tax, to familiarize students with the idea that different percentages are paid between different brackets. There are also activities requiring students to complete pay slips with Income Tax, National Insurance, Pension and Student Loan Repayments, to find the total deductions an individual has from their wages.

Included files:

- Tax and Minimum Wage Info: Information handout detailing the current minimum wage conditions and maximum working hours, correct as of October 2016. Overleaf are current Income Tax rates and Bands, useful for other resources included.

- Other Deduction Rates: Information sheet with screenshots from gov.uk, detailing how much National Insurance is paid at different thresholds, and statements about pension payments and student loan repayments

- Income Tax Visual: A powerpoint presentation, displaying salaries of various amounts on a number line, and demonstrating which parts of the full salary comes under personal allowance, 20% bracket etc. Good for showing students very visually how different parts of the salary are taxed at different amounts.

- Income Tax Calculations: A worksheet where students are required to find jobs in the local area, and calculate how much INCOME TAX is paid in each role. There is a scaffolded table to be completed, with an example.

- Scenarios: A set of 8 cards with different individuals' age, weekly hours worked, and hourly wage. Some information is stated as "Minimum Wage" or "Apprentice Wage" for example, so this resource is used in conjunction with "Tax and Minimum Wage" info. Students can be asked to find how much these individuals would take home after all of their deductions, or after JUST INCOME TAX.

- Payslip Example Calculation: A powerpoint which breaks down the calculations required to find the deductions from an individual's wages - 2 examples.

- Payslip Examples: 4 payslips which have been completed incorrectly! Students are to complete the payslips correctly, and as a challenge, can be asked to determine what error has been made. The errors are detailed at the end. [The payslips are World of Warcraft themed, just for fun :) ].

- Tax Checker: An excel spreadsheet, where you can put a salary into the formula, and it will detail the INCOME TAX paid. This could be useful either to discuss with students, or to quickly check students' answers.