Understanding Share Schemes
This topic discusses:
Delivered share scheme deductions.
Process lists and sections.
Viewing delivered elements.
This table lists the deduction elements delivered for share schemes:
|
Name/Description |
Unit |
Rate |
Base |
% |
Amount |
|---|---|---|---|---|---|
|
SS DD SVE AA Share Save Actual Amount |
N/A |
N/A |
N/A |
N/A |
Payee Level |
|
SS DD SVE NA Share Save Normal Amount |
N/A |
N/A |
N/A |
N/A |
Payee Level |
|
SS DD BUY AA Share Buy Actual Amount |
N/A |
N/A |
N/A |
N/A |
Payee Level |
|
SS DD BUY NA Share Buy Normal Amount |
N/A |
N/A |
N/A |
N/A |
Payee Level |
|
SS DD BUY AP Share Buy Actual Percentage |
N/A |
N/A |
Payee Level |
Payee Level |
N/A |
You can modify the delivered deductions or create your own. Link deductions to share schemes on the Define Share Schemes GBR page.
Note: It is not mandatory to store both the actual amount and normal amount. Only the actual deduction field is required on the Define Share Schemes GBR page.
This table lists the earnings delivered for share scheme refunds and share sales:
|
Name/Description |
Unit |
Rate |
Base |
% |
Amount |
|---|---|---|---|---|---|
|
SS ER SVE CR Share Save Contribution Return |
N/A |
N/A |
N/A |
N/A |
Payee Level |
|
SS ER SVE RB Share Save Residual Balance |
N/A |
N/A |
N/A |
N/A |
Payee Level |
|
SS ER BUY CR Share Buy Contribution Return |
N/A |
N/A |
N/A |
N/A |
Payee Level |
|
SS ER BUY RC Share Buy Residual Cash |
N/A |
N/A |
N/A |
N/A |
Payee Level |
|
SS ER BUY TX Share Buy Taxable Sale |
N/A |
N/A |
N/A |
N/A |
Payee Level |
|
SS ER BUY NT Share Buy Non-Taxable Sale |
N/A |
N/A |
N/A |
N/A |
Payee Level |
Note: If you want to use any of these earnings to refund contributions, use positive input to process the earning. The amounts are not calculated by Global Payroll for the UK
This table lists two key supporting elements used in the definition of the delivered share scheme deductions and share schemes:
|
Element Type |
Element Name |
Description |
|---|---|---|
|
Accumulator |
SS AC BUY |
The accumulator that is used to calculate contributions based on a percentage of earnings. The accumulator is associated with the share buy scheme on the Define Share Schemes GBR page. You can use the delivered accumulator or define your own for use with your organization's share schemes. |
|
Formula |
SS FM POST |
A post process formula attached to all the share scheme deductions. It contains rules for suspending contributions during maternity leave, insufficient earnings, leaver and limits processing. |
These sections are delivered for share scheme processing:
GBR SE SHAREBUY
This section is processed before tax because share buy contributions are pre-tax deductions.
GBR SE SHARESAVE
This section processes share save contributions, which are post-tax deductions. If you set up your own sections and process lists, you must ensure that the share save scheme section is processed after the statutory deduction sections for tax, NI, court orders, and student loans. Generally, share save contributions are also processed after company loans.
These sections are included in the GBR PR PAYROLL process list.
The PeopleSoft system delivers a query that you can run to view the names of all delivered elements designed for the United Kingdom. Instructions for running the query are provided in the PeopleSoft Global Payroll product documentation.