Setting up recurring tax adjustments is very similar to setting up recurring deductions and can be set to recur indefinitely or expire after a certain date or amount has been paid.
One reason why you might want to setup a recurring tax adjustments for an employee:
- There is an extra pay period in the financial year (ie. 53 weeks or 27 fortnights)
To setup recurring tax adjustments you simply need to follow these steps:
Open an employee file and go to 'Pay Run Settings' > 'Pay Run Inclusions' > Tax Adjustments'
To add a new adjustment click the “Add” button on the adjustments screen
To create an indefinitely recurring tax adjustment, first decide the amount(per pay run) which can be chosen from 'Fixed', 'Percentage of Gross', and 'Percentage of Taxable Earnings' then choose the amount to be adjusted depending on what was chosen from the drop down menu, the choice will be in sterling or percentage;
Then add notes if you wish them to appear on the pay run and then choose when you want the adjustment to commence by choosing an option for the drop down menu;
Then choose from the drop down menu when you want the adjustment to expire
Finally click on the "Save" button for the tax adjustment to take effect and this will now appear on your pay run.
If you have any questions or feedback on the recurring tax adjustments feature, please leave a comment or contact us on email@example.com