Benefits-in-kind. 3. How do I add as company arranged?

"Benefits-in-kind. 3. How do I add as company arranged?"

A company arranged benefit-in-kind is a way for the company to provide something beneficial to an employee beyond only money.

To add a company arranged benefit-in-kind:

1. First, select the person who's getting the company arranged benefit-in-kind, on: MenuPeople
2. Next, go to: PayPay settings
3. And scroll down to the "Repeat payables ... personal" heading.
4. Then tap: New repeat payable
5. Next, select: Benefit-in-kind
6. Next, type in a Description of the benefit-in-kind.
7. Select the time frame for the: Amount type
8. And then type in the: Amount
9. By default, "Arranged by" is already set to: "Company"
10. Then scroll down and tap the "Advanced" heading.
11. If there's a co-pay, or an amount that the person's agreed can be taken off their pay, enter that also in: Employee deducted co-pay
12. Then tap: Save
13. Now, to see how it shows up on the person's payslip, hover your mouse over the repeat payable, and tap the "See on payslip" button:
14. You'll now see an amount showing under: "Benefits-in-kind ... company arranged"
15. There may have been a co-pay, or an amount that the person's agreed can be taken off their pay. If so, you'll also see that amount showing as: "Employee deducted co-pay"
16. And finally, if you hover your mouse over the amounts, you'll see a breakdown of their calculations.

Keep in mind that:

• As a "Benefits-in-kind ... company arranged", the benefit is taxed by both "Income Tax" and: "National Insurance (Class 1A)"
• Which results in the person paying slightly higher taxes, compared to a: "Benefits-in-kind ... employee arranged"
• Also, because it's a benefit-in-kind, there's no change to the person's in-the-hand pay (besides the tax adjustment).

To learn more:

• About a "Benefits-in-kind ... employee arranged", watch the video on: Employee arranged benefit

And that's it! That's everything you need to know about adding a company arranged benefit-in-kind.