Automatic Calculation of Recovery and NIC Compensation Amounts
The application provides predefined balances to calculate the recovery and NIC compensation amounts.
The Employer Payment Summary (EPS) process automatically retrieves the tax year-to-date (YTD) recovery and NIC compensation amounts from the predefined balances and include them in the EPS submission to HMRC.
Balance Feeds
The application feeds the NIC compensation and recovery balances by the elements you create to process absences. The predefined balances store the running tax YTD totals. The payroll runs calculate the recovery and NIC compensation amounts and feed the predefined balances. When you run the EPS process, it retrieves the tax YTD values from the predefined balances.
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SMP Recovery
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OSPP Birth Recovery
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OSPP Adoption Recovery
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ASPP Birth Recovery
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ASPP Adoption Recovery
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SAP Recovery
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ShPP Adoption Recovery
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ShPP Birth Recovery
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SMP NIC Compensation
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OSPP Birth NIC Compensation
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OSPP Adoption NIC Compensation
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ASPP Birth NIC Compensation
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ASPP Adoption NIC Compensation
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SAP NIC Compensation
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ShPP Adoption NIC Compensation
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ShPP Birth NIC Compensation
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SPBP NIC Compensation
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SPBP Recovery