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OHFBNMP03 - Define Annual Tax Free Boundary for Miscellaneous Plan (FLEX)

RFUMSV00 - Advance Return for Tax on Sales/Purchases   PERFORM Short Reference  
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Define Annual Tax Free Boundary for Miscellaneous Plan (FLEX)

In Great Britain, payments into selected benefit plans are subject to tax.

You use this step to control benefit plans belonging to the Miscellaneous Plan type which possess a tax free threshold, above which plan payments become taxable. You must maintain theTax Free Boundaryfield for any miscellaneous plans where payments into it are subject to taxation restrictions.

For the system to check for the existance of any tax threshold for a miscellaneous plan, you must have previously set the Tax Free Boundaryindicator for the plan, in the IMG step Define Flexible Benefits Miscellaneous Plan Attributes (FLEX).

1. Execute this IMG step and select your required benefits area when prompted.

The table view Define Annual Tax Free Boundary for Miscellaneous Plan: Overview is displayed.

1. Select the miscellaneous plan you wish to maintain and choose Details.
2. In the field Tax Free Boundary ,enter the value of the tax threshold above which plan payments become taxable.
3. Repeat steps 2 and 3 for each miscellaneous plan subject to tax restrictions.
4. Save your entries.

For example, payments into a specific miscellaneous plan are tax free up to an annual threshold of GBP 500 . Any plan payments above this amount are subject to tax. Therefore, when you fill theTax Free Boundaryfield with the value GBP 500, all plan payments above this threshold value are treated as taxable by payroll.

Fill RESBD Structure from EBP Component Structure   PERFORM Short Reference  
This documentation is copyright by SAP AG.

Length: 2013 Date: 20240523 Time: 154628     sap01-206 ( 38 ms )