Set up share scheme payments
Description
Cause
Resolution

Share schemes let employees benefit from company growth and can be a tax-efficient way to reward and retain staff.

  1. Go to Company/Payroll, then select Payments.
  2. Select New.
  3. Complete each field as follows:
    Field What to enter
    Title Enter a clear name for the payment.
    Type Select Shares.
    Tax Select this box if the payment is taxable.
    Universal Social Charge (USC) Select this box if the payment is subject to USC.
    Include in pension calculation Leave this box clear.
    PRSI Select Apply Employee PRSI Only.
    Apply Pension Related Deduction (PRD) Select this box when PRD applies. The option appears only after you enable PRD in your software.
    Multiply by the number of holiday periods Select this if the payment is holidayable. The software adjusts the value based on holiday periods entered.
    Employee’s average hourly rate Select this if the payment counts towards the average hourly rate. Applies to hourly or unit payments only.
    Holiday accrual calculation Select this if the payment contributes to holiday accrual. Applies to hourly payments only.
    EHECS type Enable CSO reporting first, then choose Irregular Pay or Not Relevant as the EHECS type.
  4. Select Save, then Cancel.
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