This screen is only applicable where Irish legislation applies. Enables you to set up and maintain the pension tax relief parameters used to calculate the tax free element of Pension contributions on an age related basis.

Selection

Effective Date

Enter the effective date of the pension tax relief parameters that you want to maintain, or select one by clicking WINDOW to display Tax Relief Tables.

If the effective date does not exist, a prompt is displayed allowing you to create the new date. If you choose to create the new effective date, Copy Tax Relief Table is displayed where you can copy an existing set of parameters and amend the details.

Control Parameters

Tax Relief In Use

Enter Y if tax relief is applicable to pension contributions. You can override this setting for individual control groups via Ireland Company Details.

Use Tax Relief Cap

Enter Y if a cap is to be applied to the cumulative gross pay on which tax relief is calculated.

Cap Amount

Enter the amount of the annual cap to apply.

Cap Warning Percentage

Enter the percentage of the cap that generates a warning - when an employee’s cumulative total gross is at or above this percentage, an employee warning report is generated.

Tax Free Accumulator

Enter the ID of the pay element that corresponds to the unused optional accumulator that should be used for storing the tax free portion of the pension contribution. The relationship between accumulator number and pay element is: accumulators 01 to 10 relate to pay elements 0800, 0810, 0820 etc and accumulators 11 to 30 relate to pay elements 0600 to 0620.

Taxable Accumulator

Enter the ID of the pay element that corresponds to the unused optional accumulator that should be used for storing the taxable portion of the pension contribution. The relationship between accumulator number and pay element is: accumulators 01 to 10 relate to pay elements 0800, 0810, 0820 etc and accumulators 11 to 30 relate to pay elements 0600 to 0620.#

Gross Pay Accumulator

Enter the ID of the pay element that corresponds to the unused optional accumulator that should be used for Age Related Pension Tax Relief instead of the default 0999 accumulator. The relationship between accumulator number and pay element is: accumulators 01 to 10 relate to pay elements 0800, 0810, 0820 etc and accumulators 11 to 30 relate to pay elements 0600 to 0620.

Deduct Excess Conts.

Enter Y if pension contributions that exceed the maximum tax relief amount should be deducted from net pay or leave blank if pension contributions should be capped at the maximum tax relief amount. The maximum tax relief amount is determined from the employee's age and the corresponding percentage. You can override this setting for individual control groups via Ireland Company Details or for individual pension schemes via Pension Schemes.

Button

Age Related Percentages

Click this button to display Age Related Percentages, where you can maintain age related percentages of tax relief for pension contributions.

MD166S30