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AlexBeggLawrie
October 28, 2019
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Employee ownership trust

  • October 28, 2019
  • 1 reply
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We're an  employee owned business, and so we can pay a tax-exempt bonus to our employees. While this is not subject to income tax, it is still liable for NI. In Paysuite, I can see how to set up a completely tax free bonus, and one that is fully liable for payroll taxes, but not one that is liable for NI but not IT. Can anyone advise?

Best answer by katherinejoyceO

Great day and thanks for visiting the community, @AlexBeggLawrie. Let me help you with your employee's ownership trust concern. 

Since PaySuite can't create a customize pay item, you can choose to what is only available under the Payments (Non-Taxable) drop-down. Here's how: 

 

  1. Go to the Employees tab in the left menu.
  2. Click Run Payroll at the top right.
  3. Follow the onscreen instructions on the Payroll Processing Wizard. 
  4. In the Variable Input tab, click the drop-down in the Payments (Non-Taxable).
  5. Choose any of the non-taxable items in the drop-down list.  

 

Once done, you can approve the payroll. For future reference, you can read through our help article: PaySuite Hub. This is a great resource that will answer most of your PaySuite related questions. 

 

Let me know how it goes, @AlexBeggLawrie. We're always around to further assist. 


 

1 reply

katherinejoyceO
katherinejoyceOAnswer
October 28, 2019

Great day and thanks for visiting the community, @AlexBeggLawrie. Let me help you with your employee's ownership trust concern. 

Since PaySuite can't create a customize pay item, you can choose to what is only available under the Payments (Non-Taxable) drop-down. Here's how: 

 

  1. Go to the Employees tab in the left menu.
  2. Click Run Payroll at the top right.
  3. Follow the onscreen instructions on the Payroll Processing Wizard. 
  4. In the Variable Input tab, click the drop-down in the Payments (Non-Taxable).
  5. Choose any of the non-taxable items in the drop-down list.  

 

Once done, you can approve the payroll. For future reference, you can read through our help article: PaySuite Hub. This is a great resource that will answer most of your PaySuite related questions. 

 

Let me know how it goes, @AlexBeggLawrie. We're always around to further assist. 


 

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