How Do I Enter an Amount Forgone for an OpRA Agreement?
For Company Cars with CO2 emissions over 75g, you will need to enter the amount foregone (ie: the Salary Sacrifice) for an OpRA agreement, if applicable. Cintra iQ will then calculate the appropriate taxable charge either on a P11D or for a payrolled benefit for each period.
If the CO2 emissions are 75 gms or below, any OpRA forgone amounts will be disregarded when calculating the vehicle benefit.
You can create entries for each car that you have used for a tax year along with the actual benefit that is foregone if you set the OPRA flag to Y. Once this is set in the Expenses & Benefits window> Company Vehicle Usage tab> Vehicle Usage pane, you can enter an amount in the Amount Foregone tab in the Details pane.
This is only applicable for P11D returns from tax year 2017/18 onwards.
To enter a forgone amount
- Navigate to the desired employee's Expenses & Benefits window.
Go to Cintra iQ: Employment Record> Forms> Expenses/Benefits
- Navigate to the Company Vehicle Usage tab.
- Highlight the desired Vehicle Usage record in the Vehicle Usage pane where OPRA is set to Y.
- Navigate to the Amount Forgone tab in the Details pane.
- Right-click: New. The New Vehicle Amount Forgone form appears.
- Enter the Vehicle Forgone Amount.
- Ente the Fuel Foregone Amount.
- Select the Tax Year.
- Click the Apply button.
- Click the OK button to save and exit.
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