How_Money_Works_-_The_Facts_Visually_Explained

222 223 T r a d it io nal^ curre n c y PERSONAL FINANCE Money in the digital age The total worth of all coins and their daily tr ...

Bitcoin How it works Launched in 2009, Bitcoin was the first cryptocurrency and is still the most widely used. Unlike convention ...

224 225 PERSONAL FINANCE Money in the digital age Blockchains The blockchain is a bit like a public ledger that can be viewed o ...

Crowdfunding How it works Most fundraising focuses either on charitable causes or on investment in a worthwhile or potentially l ...

226 227 PERSONAL FINANCE Money in the digital age FEES Fees for crowdfunding platforms vary, but are typically around five per c ...

P 2 P i n te rm ediary Peer-to-peer lending Also known as crowd-lending, peer-to-peer lending is a way to match savers looking f ...

228 229 P 2 P i n te rm ediary PERSONAL FINANCE Money in the digital age Borrowers After being subject to a credit check and gra ...

£ $ € £ PENSION POT £ £ 230-231_OPENER_CH5.indd 230 13/10/2016 16:11 ...

MONEY IN THE UK 230-231_OPENER_CH5.indd 231 13/10/2016 16:11 ...

London Stock Exchange The centre of the UK financial world is the London Stock Exchange (LSE). It is ranked third in the world i ...

232 233 MONEY IN THE UK Company finance FTSE All-Share A combination of the FTSE 100, 250, and SmallCap, the FTSE All-Share Inde ...

Company registration Any company that does business in the UK has legal obligations. If it has a physical place of business in t ...

234 235 MONEY IN THE UK Company finance process while acting for a corporation, is liable to be prosecuted. The law is aimed at ...

The UK’s central bank The Bank of England (BOE) was established in 1694, making it the second oldest central bank in the world a ...

236 237 assesses current economic data, such as the rate of unemployment, the growth of Gross Domestic Product (GDP), and inflat ...

Role of government Central government collects both direct taxes, such as income tax, and indirect taxes, such as VAT. Local gov ...

238 239 MONEY IN THE UK Public finance Price Index (RPI), which measures changes in the price of a “shopping basket” of retail g ...

Revenue from National Insurance Money the government receives in National Insurance (NI) contributions is used exclusively for p ...

240 241 MONEY IN THE UK Public finance 17.5 per cent. A reduced rate of 5 per cent is applied to some products, including childr ...

Tax on savings In April 2016, a new Personal Savings Allowance was put in place, meaning that account holders earn some tax-free ...