Tax literacy should be taught at school, expert advises

www.moneynews.co.uk > General finance > Tax literacy should be taught at school, expert advises

Tax literacy should be taught at school, expert advises

Mon 16th Nov 2009

Young people should be taught to understand the tax system before they have access to it, according to the Personal Finance Education Group (pfeg).

Chief executive of pfeg Wendy van den Hende said that each year around a million school leavers do not understand the tax system they are about to become part of.

She suggested that children should be taught how the structure works, adding that their lack of knowledge is "a symptom of the general state of financial capability within the country."

In September, HM Revenue and Customs released Tax Matters, a free online resource for teachers, which aims to educate secondary-age pupils about income tax, national insurance, how taxes are raised and what they pay for.

Ms Van den Hende said she believes that although the new source alone will not dramatically change financial education, schools are making "good inroads" and it is necessary to ensure this continues in coming years.

Click here for more general finance news

Related News : General finance
	Citizens Advice welfare applauds government
	Confused.com energy defends British Gas
	Bank of Ireland passes stress test
	Tesco Mobile deal 'courts consumers'
	Scottish Widows Investment Partnership notes favourable response
	Customers should fix now, says moneysupermarket.com energy
	Confused.com highlights importance of getting the best deal
	Prices on the rise, says moneysupermarket.com energy
	Bank of Scotland economic report 'suggests transitional phase'
	Clydesdale and Yorkshire Banks security advice issued