UK Financial Glossary
11 UK-specific money terms explained in plain English — ISA, SIPP, State Pension, National Insurance, PAYE, SDLT and more — with 2026-27 figures and the calculator for each. Shared terms like net worth and ETF live in the main glossary.
11 UK terms2026-27 figuresPlain English
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Financial Foundations
(5 terms)Lifetime ISA (LISA)A Lifetime ISA (LISA) is an ISA for people aged 18 to 39 at opening, into which the government pays a 25% bonus on…→National Insurance (NI)National Insurance (NI) is a contribution deducted from earnings that builds your entitlement to the State Pension…→PAYE (Pay As You Earn)Pay As You Earn (PAYE) is the system through which employers and pension providers deduct income tax and National…→Personal Allowance & Income Tax BandsThe personal allowance is the amount of income you can receive each tax year before paying income tax — £12,570 in…→Stamp Duty Land Tax (SDLT)Stamp Duty Land Tax (SDLT) is the tax paid when you buy a residential property in England or Northern Ireland…→
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Investing & Wealth Building
(1 term)
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Retirement & FIRE
(4 terms)Inheritance Tax (IHT)Inheritance tax (IHT) is charged at 40% on the value of an estate above the nil-rate band of £325,000, with an…→SIPP (Self-Invested Personal Pension)A Self-Invested Personal Pension (SIPP) is a pension wrapper you open and manage yourself, choosing the funds…→State PensionThe State Pension is the regular payment from the government you can claim once you reach State Pension age…→Workplace Pension (Auto-Enrolment)A workplace pension is the scheme your employer must enrol you into under auto-enrolment if you are aged 22 to…→
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Debt & Budgeting
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