Overview

The Payments Platform is dedicated to taxable payments for annuities and pensions. The solution provides a full, end-to-end platform that takes a feed from your administration system(s), verifies and checks the input data, calculates the tax and creates the appropriate files for ledgers and reporting. It also automates RTI tax payments.

Features

Our Payments Platform can deal with multiple service companies and schemes. The system provides a web-based user interface with strict data access controls, audit and security.

The system can be used to administer:

  • Tax calculations
  • Onboarding and leavers
  • BACS payment file creation
  • General ledger interface
  • Manual adjustment system
  • Reconciliation reporting
  • HMRC RTI returns, including FPS, EAS, EPS, EYU, P6, P9

Benefits

The payment module has been built with volume and performance in mind, as well as allowing you to control the process. Pipeline processing allows for the efficient processing of payment runs, even where rogue or incomplete data is loaded into data batches. The system identifies these data and suspends individual payments against these records only, meaning that correct records in the batches are processed and paid whilst incorrect records are not paid.

The system allows you to:

  • Manually create payments
  • Manually amend missing data
  • Exclude annuitants or payments from payroll runs
  • Monitor the progress of input data files through the system
  • Drill into details of annuitants' payments, payroll runs etc
  • Create your own or use the provided reports with the report generator
  • View reconciliations showing details of payment requests through to actual payments

Arrange a Demo

If you would like further information about the Payments Platform or to arrange a demo, please complete the form below.

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June 3, 2016

Payments Platform

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