The excess on an insurance policy that you can voluntarily choose to pay. See Excess for further explanation.

The number of years over which you have to repay a loan.

Car insurance which only covers any damage to another person's car, or fire and theft of your car.

The tax year runs from the 6th of April to the 5th of April the following year. Taxes due are worked out based on this period rather than the calendar year.

The amount of money you have earned after your tax allowance and on which you have to pay tax.

A summary of your account

The money deducted by the government to pay for public goods and services. Tax is included in the price of many every day items and it is also deducted from your pay.

The minimum amount you are allowed to earn each year without having to pay tax.

By paying an additional premium you can protect your no claims bonus. If you have built up a good few years no claims bonus it can be worth doing this to avoid losing it should you have an accident.

A summary of your account sent to you every 3 months.