LANC1070 - Unit 3: Taxes

Everyone in the UK is required to pay income tax.

• True

• False

• NI

Raising interest rates is an example of fiscal policy.

• True

• False

• NI

Tax revenue is allocated equally to various public services such as hospitals and the military.

• True

• False

• NI

One goal of taxation is to help improve living standards for UK citizens.

• True

• False

• NI

The text mentions both positive and negative aspects of taxation.

• True

• False

• NI

Taxes are mainly used to fund necessities like the military and police.

• True

• False

• NI

HMRC uses modern technology in its tax collection processes.

• True

• False

• NI

 All self-employed people in the UK must pay VAT.

• True

• False

• NI

The UK government only uses taxes to control the economy.

• True

• False

• NI

Tax evaders could face financial penalties.

• True

• False

• NI