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Where money comes from

The money that we have to live on can come from many different places. We may get wages in exchange for any jobs we do or receive money as benefits or a pension. Some of us also get money from savings or investments that we have or at times we may borrow money.

The money we have to live on is often called our income.

In this section, we look at different types of income. You’ll also find information on income tax, which is a tax we have to pay on our income, and an explanation of tax credits, which can reduce the amount of income tax we have to pay.

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