Tax and national insurance
All pay elements include the correct tax and national insurance (NI) treatment, so you don’t have to configure the correct settings yourself. You can view the treatment for any element from the Settings area, as well as at the point of using it to add an adjustment to a team member’s pay.
Pension treatment
You can customise a pay element’s pension treatment. As different pension schemes have different contribution bases, the pension treatment of a pay element is defined at the pension level.
Statutory payments
If you don’t want to set up a statutory payment schedule for a team member, you can apply the pay using one of the existing statutory pay elements. The statutory payment elements, such as paternity pay, or shared parental pay appear on EPS submissions, and P32 reports for statutory reclaim.
Custom pay elements
Within the basic set of pay elements, are a section of custom pay elements. These elements have very specific tax treatments, which might be required for certain payroll changes. To use them, you need to duplicate them, then add to a pack.
Create new pay elements
Paycircle provides a default, basic set of pay elements, however you can still create your own elements by duplicating existing ones.
Payslip labels
Paycircle’s basic elements have been given intuitive names, using as little jargon as possible. However, you may still need to customise certain elements. Instead of duplicating elements, you can add payslip labels that fit your desired naming conventions.
When creating all the elements you need, you may also end up with lots of elements with different names, but that all share the same tax treatments. To streamline your pay elements, you can use payslip labels instead, and give one element several different labels.
Disbursements
You can use pay elements to set up disbursements, such as a childcare voucher to pau directly to the provider. You can add these to your main BACS file, or create them as a separate file with a different pay day.