Fusion UK Payroll: How to Setup Taxable Benefits when Company Benefits Year does not Align with Tax Year?
(Doc ID 2482864.1)
Last updated on FEBRUARY 23, 2020
Applies to:Oracle Fusion Global Payroll Cloud Service - Version 220.127.116.11.0 and later
Oracle Fusion Global Payroll - Version 18.104.22.168.0 and later
Information in this document applies to any platform.
There is a number of taxable benefits which we need to tax through payroll by using the delivered 'Taxable Benefits' calculation card. Our benefits year runs from the start of March to the end of February. Business would like to enter the annual taxable benefit value (Amount Foregone in Taxable Benefits calculation card) and a Tax Processing rule which will spread this additional taxable pay across the whole of our benefits year i.e. March to Feb. However, this option does not seem to be available as the only option for processing this tax across multiple pay periods is the tax processing rule is 'Taxed across remaining payroll periods'.
Is there anyway to enter the annual value of a taxable benefit in the taxable benefits calc card such that the benefit is taxed across the periods in our benefits year instead of tax year?
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