As any parent knows, teaching children the value of money and how it actually doesn’t grow on trees can be challenging but it is undoubtedly a key opportunity in preparing them for life as an adult.
It can be even more complicated explaining to young children the importance of tax law and the role we all play as taxpayers in paying for the things that are essential for our safety, health and wellbeing.
Luckily HMRC have come up with a series of videos which help to introduce young people to tax and prepare them for working life.
Junior Tax Facts have been designed for primary school children, aged eight to eleven. In a series of engaging animated YouTube videos, HMRC explains, in an age appropriate way, that taxes provide the money needed to pay for the things that are essential to them, their families, communities and society as a whole.
With titles such as Working For Yourself and Starting your first job, the videos are a great resource for parents and include real life exercises such as giving children a chance to be chancellor. Tax facts for children is a great learning tool for children and parents alike.
With the Autumn Budget looming on 29th October it will be interesting to hear their ideas on where tax should best be spent!