English to Italian Bus/Financial Law: Taxation & Customs

If your pension contributions are taken before tax
This is known as the net pay arrangement, which means your contributions are taken from your pay before tax.
And because you only pay tax on what’s left, you’ll get your full tax relief straightaway.
If you don’t pay tax due to your earnings being below the annual income tax personal allowance (the standard personal allowance is currently £11,500), you won’t be able to benefit from tax relief.
However, you’ll still continue to benefit from the money that your employer pays in to your personal account.

Questo testo si riferisce a un programma pensionistico