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Ensuring accurate payments and benefits means employees are being rightfully compensated for their work. If handling payroll seems like a challenging task, payroll audit provides assurance, helping companies navigate the activity with confidence. In an era of ever-evolving regulations, rapid technological advancements, and the increasing intricacies of employment laws, the…
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Globalisation has completely transformed our work relations. The rise of remote work, the gig economy, and the increasing diversity of the workforce have reshaped the way businesses engage and onboard new talent. In the past, hiring workers was limited to the same city or country where a company operates. Nowadays,…
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When starting a company, every aspect of business management holds the potential to either fuel rapid growth or hinder progress. Startups have to constantly navigate these opportunities and challenges, paying attention to what can determine success. The ability to navigate payroll management efficiently and effectively is a key ingredient for…
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There are many decisions involved in the process of managing payroll. Since it can be a very challenging activity, businesses should carefully consider how to go about it to ensure efficiency and compliance. One of the key choices businesses may face is between centralised or decentralised payroll. In this article,…
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Managing payroll effectively is crucial in a company's relationship with its employees and government authorities. What businesses pay their workers must be accurate and transparent so there are no injustices. Yet, despite its significance, payroll compliance is often overlooked, underestimated, or misunderstood. In this article, we will delve into the…
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An efficient business is a business that understands the importance of streamlining processes. Making some of the key tasks in a company faster and easier can revolutionise the way you do business, leaving you with more time and resources to dedicate to what really matters. When it comes to financial…
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Managing payroll on a global scale can be an extremely complex activity. In this blog, we have discussed what global payroll is and some of the essential elements of managing payments and benefits of employees working across different countries. The intricate web of international tax laws, regulatory compliance requirements, and…
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In this blog, we have already discussed the importance of preventing errors in global payroll management and everything you need to know about global payroll. When it comes to a complex and challenging process such as global payroll management, understanding how to measure performance and results can make this activity…
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Work arrangements have significantly changed over the years. As our work environments and needs continue to evolve, employment has become more flexible. However, this means contractors need to navigate through the complex web of tax regulations and compliance requirements. In the United Kingdom, increased work flexibility means contractors and employers…
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We live in a globalised world, and companies are increasingly expanding across borders. Even though growing to other markets can be extremely advantageous, it also comes with a set of challenges. Managing global payrolls is one of them. Efficient and compliant global payroll management requires a significant level of expertise…
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Organisations are expanding their reach beyond borders, establishing a global footprint that spans continents and cultures. While this global expansion opens up new avenues of growth and opportunity, it also introduces a series of challenges, particularly when it comes to managing payroll on an international scale. Accuracy in payroll processing…
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Managing payroll is essential for any organisation, ensuring that employees are compensated accurately and on time for their contributions to the company. In a previous blog post, we have already discussed the challenges of managing international payroll. Still, whether working in your home country or operating abroad, one thing that…
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Handling payments is an important part of running a business. Employees must also understand what they are paid and what can and should be deducted from their salaries. That is the difference between gross pay and net pay, a fundamental cornerstone of financial literacy. The dissonance between what people are…
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In recent years, work has become more flexible and increasingly remote. The rise of freelancers, contractors, and consultants has made some work relations more agile and adaptable. However, this new model of work has also raised questions about what is considered employment, self-employment, or disguised employment. Under the IR35 legislation,…
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We have already discussed what IR35 is and how it can affect businesses and individuals alike. We have also explained what constitutes employment and what can determine if a contractor falls inside or outside IR35. Now, it is time to discuss the criteria the HMRC uses to determine an individual’s…
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As a business professional, you understand the pivotal role tax plays in shaping the financial success of your organisation. The UK's tax system is renowned for its intricacy, presenting both challenges and opportunities that demand your attention and expertise. Our mission is to empower you with the insights, strategies, and…
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Navigating the complexities of tax laws and employment status can be challenging, especially if you are self-employed. In the United Kingdom, a regulation that holds significant importance for sole traders is the IR35. In this blog, we have already covered what IR35 is and what it means to be “inside…
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Collaboration is the key to success. As the saying goes, “two heads are better than one”, and a team of people can reach better results than just one person. As organisations face complex challenges and seek innovative solutions, the traditional top-down, command-and-control leadership model gives way to a more inclusive…
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The implementation of the IR35 legislation in the United Kingdom has brought significant changes to the landscape of contract work, particularly for those operating through intermediaries such as personal service companies (PSCs). IR35 aims to tackle tax avoidance by determining the employment status of individuals providing services to clients, and…
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As the business world shrinks thanks to the powers of digital connectivity and remote work, the concept of 'global payroll' is becoming increasingly more relevant. Whether your organisation is branching out into international territories, hiring talent from every corner of the globe, or juggling a diverse, international workforce, the complexities…
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As you set your sights on UK expansion, understanding the intricacies of local tax laws becomes crucial. One legislation you'll encounter is IR35. This guide aims to provide you with a comprehensive understanding of this law, helping you easily navigate the UK's business landscape. But first, let’s take a quick…
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Success is not only measured by financial metrics. Employee engagement, satisfaction, and overall well-being also play a huge part in productivity and innovation. When employees feel valued, respected, and motivated, results improve. Building and nurturing a positive company culture is the answer to keeping people engaged. However, it might not…
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As businesses operate in an increasingly complex regulatory landscape, corporate criminal offences have become a growing concern. A company can be held liable for the criminal actions of its employees or even its third-party associates, leaving it vulnerable to hefty fines and reputational damage. At Briars Group, we recognise the…
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Conversations about Artificial Intelligence (AI) are more intense than ever. Tools like ChatGPT are already transforming some industries and offering many different possibilities to improve and optimise tasks at work. AI has been used to drive innovation, efficiency, and strategic decision-making in every sector, and Human Resources departments are no…
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The success of a company depends heavily on the competence and dedication of employees. Therefore, attracting and retaining top talent has become a critical priority for organisations worldwide. Employee well-being and satisfaction are an important part of this growing concern. Companies that prioritise the happiness of their teams reap the…
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Mergers and acquisitions (M&A) can be strategic tools for companies seeking growth. These transactions can significantly transform an industry and contribute to the rise of new market leaders. With so much to consider and plan, mergers and acquisitions require a deep understanding of the companies involved. Each transaction comes with…
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Running a business can be a challenging but rewarding task. When founding a company, people might be more interested in the opportunities and benefits of starting a business, but risk management is essential for any organisation. The goal is to consider the potential risks a business faces and assess the…
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As businesses expand their operations beyond their home countries, common day-to-day activities can become a new challenge. Sending and receiving invoices, for example, have the added complexity of dealing with different regulations, taxes, currencies and even cultural nuances. There might also be a limited understanding of receiving and making payments,…
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As companies expand their operations globally, managing employee benefits abroad has become an important – but complex – aspect of human resources management. Employee benefits are a crucial component of a company’s compensation package, and they play a significant role in attracting, retaining, and motivating employees. But it’s not always…
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As businesses continue to expand their operations across borders and cultures, some aspects of running a company become more complex and challenging. Accounting is already a crucial part of a smooth business operation, and international accounting plays a key role in global commerce. It is important that global businesses follow…
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Trade finance and trade-in banking are critical components of international trade. They play a crucial role in facilitating cross-border transactions and reducing the risks associated with global commerce. In an increasingly globalised world, understanding these concepts can be significantly relevant to the success of a growing company. In this article,…
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There is a lot of work involved in managing a company. The most important aspect of running a business is ensuring services and products are delivered with excellence. Then comes dealing with clients, managing a team and taking care of finances. With so much to consider and dedicate time to,…
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Many countries have legislation in place to combat tax evasion by corporations. In the UK, this piece of legislation is called Corporate Criminal Offence (CCO), which mandates companies to prevent their employees, agents, or other associated persons from facilitating tax evasion. CCO is a strict liability offence. Failure to implement…
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Handling payments can be a challenge in any setting. It involves knowing and complying with local laws and regulations, ensuring that deadlines are met and taxes are paid. It is such a crucial task that often, companies have entire departments dedicated to managing payroll or, sometimes, even hire specialised companies…
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Growing your company can be a challenging but rewarding experience. Getting more work than your team can handle is a sign that your business is doing great and that it might be time to increase the number of people working for you. As companies face the challenge of finding the…
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Businesses are becoming increasingly borderless. Thanks to advances in technology and a deeper understanding of different cultures, companies can operate all over the world, enjoying more opportunities for growth and development. However, globalisation is not only a matter of selling or offering services worldwide. Employing people outside of your home…
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In an increasingly globalised world, taking your company, your products, and your goals abroad can be an excellent way of gaining new customers and growing your business. But is global expansion for everyone? What challenges will you face when creating a strategy to take your business abroad, and what are…
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Frozen tax thresholds pull more Britons into higher rates As the global recession rumbles on, the UK Government has effectively utilised stealth to increase the group subject to its highest rate of Income Tax, being 45%. The retention of the frozen tax thresholds has led to a 50% increase in…
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High Potential Individual visa scheme to import new talent to the UK May 2022 saw the introduction of the High Potential Individual visa to the UK. This new route into the UK is a small part of a broader set of global mobility schemes, designed to attract overseas talent. The…
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Tax Reform for all Unincorporated Businesses An HMRC tax reform that will change the basis period for all unincorporated businesses to 5th April is delayed but still due. The changes will mean that businesses will be taxed on the profit or loss for the year ended 5th April regardless of the…
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Making Tax Digital extended to all VAT-registered businesses HM Revenue & Customs (HMRC) has confirmed that Making Tax Digital (MTD) will be extended to all VAT-registered businesses from April 2022. Changes will apply to the approximately 1.1m VAT-registered businesses with taxable turnover below the current VAT threshold. The move comes…
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How UK companies are using Enterprise Management Incentive (EMI) Schemes to grow their business Enterprise Management Incentive (EMI) schemes are allowing innovative businesses to reward success in a tax-efficient manner by offering key people in the business a share in the company’s success. EMI schemes have surged in popularity in…
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International Tax Reforms Challenge the Use of Holding Companies Proposals under Base Erosion and Profit Sharing 2.0 (BEPS 2.0) and the Anti-Tax Avoidance Directive 3 (ATAD 3) challenge the use of holding companies. BEPS 2.0 may re-introduce withholding taxes while ATAD 3 brings in prescriptive requirements. Beneficial Ownership from…
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Tax Authorities Across the World are Coordinating to Reduce Opportunities for Tax Avoidance Transfer pricing continues to be a focus for tax authorities around the world. In order to reduce tax avoidance, changes are being proposed around the world that will impact businesses global tax compliance. Many of these…
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UK Government announces plans to increase National Insurance Contributions to reduce strain on health and social care National Insurance Contribution [NIC] rates are being increased to support the NHS and social care services. The Government has announced plans to raise National Insurance by 1.25% for one year only for employees,…
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OECD accord imposes global minimum corporate tax of 15% Over 130 countries have signed an OECD accord that enables them to raise tax on sales made by multinational enterprises within their borders. The two-pillar package aims to ensure that large Multinationals pay tax where they operate and earn profits, while…
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Increase in Registered Companies Indicates a UK Wide Start-Up Boom The largest start-up boom in the UK for the past decade has been one of the unexpected results of the coronavirus pandemic. New businesses have been created in response to necessity, the changes to work and lifestyle, and the opportunity…
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Winding Down: Changes to the Coronavirus Job Retention Scheme The Coronavirus Job Retention Scheme has been extended until 30 September 2021 while simultaneously being wound down. The level of grant available to employers under the scheme stayed the same until 30 June 2021 but has now started to reduce.…
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Starting in 2022, travellers to the EU will need to apply to the ETIAS The European Commission has declared plans to introduce the European Travel Information and Authorization System (ETIAS) by the end of 2022. The ETIAS will be an electronic system that authorizes and keeps track of people entering EU borders. Non-EU…
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UK 2nd in the world for foreign direct investment according to UN report Global flows of foreign direct investment have been severely hit by the COVID-19 pandemic but the UK is amongst those nations leading the way back. In 2020 foreign direct investment (FDI) fell by one third to $1…
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National Insurance Contributions for Employees Working Abroad UK businesses whose employees are working abroad may now apply to HMRC to find out if they need to continue paying National Insurance Contributions. The service was updated in January 2021 and applies if you’re sending one or more employees to work temporarily…
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Extended Loss Carry Back – help for businesses In an effort to provide further aid for businesses struggling with the coronavirus pandemic, the government has extended the period in which trading losses can be carried back for tax relief purposes. The Extended Loss Carry Back measure announced at Budget 2021…
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National Insurance contributions relief for employers who hire veterans From April 2022 onwards, employers will be able to apply for National Insurance contributions relief if they hire veterans. The relief will be available in real time through PAYE for 12 consecutive months from the veteran’s first day of civilian employment.…
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Deferred VAT Deadline Looms Businesses that deferred their VAT payments last year have less than a month left to join an online payment scheme. Payments deferred from the early stages of the pandemic which remain outstanding need to be paid by the end of June in order to avoid penalties. …
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Biden’s global business tax plan President Joe Biden’s plan for a 21 per cent minimum global business tax rate has been met with resistance from the UK chancellor Rishi Sunak. Though there is considerable opposition pressure on the chancellor to endorse the US plan, Sunak said he would consider a…
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COVID-19 litigation surge awaits UK companies A surge in contract disputes and employment-related litigation may be about to hit UK companies, according to Insurance broker Gallagher. Possible allegations include workplace-related safety violations and negligence, as well as unfair dismissal and discrimination following job losses. The survey, which was conducted last…
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Changes to off-payroll working (IR35) rules The new off-payroll working (IR35) rules came into force on the 6 April 2021. Though payments relating to work or payments made before 6 April 2021 are not affected, the new rules need to be considered for all payments made on or after 6…
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Biden’s $1.9tn stimulus set to boost global economy President Biden’s Covid-19 Relief Bill has been sold as a tool to boost the US recovery, but the wider world will also welcome the stimulus package. We know that when America sneezes the world catches a cold, and America has indeed been…
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What will the UK Corporation Tax rise mean for my business? The corporation tax rise was one of the most talked about aspects of the UK Spring Budget 2021. The measure is the UK Chancellor’s first step in repairing some of the damage done to the public purse by the…
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UK Budget 2021: A summary of key announcements Chancellor Rishi Sunak has announced his Spring 2021 Budget promising further support for Covid-hit businesses and workers. As well as supporting and boosting industries ravaged by the coronavirus pandemic, the announcement also looked ahead to the difficult process of repairing the public…
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Disrupting a disruptor: The implications of the Supreme Court’s Uber ruling The UK Supreme Court has ruled that Uber must classify its drivers as workers rather than self-employed contractors. The decision could threaten the position of an already unprofitable company and will have far-reaching HR and tax consequences for the…
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Tax relief for working from home Working from home has become the new normal for much of the UK workforce. During the first national lockdown in 2020, the Office for National Statistics recorded that nearly half of those in employment (46.6%[i]) performed some work at home. Not all of that…
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Banking in the UK If you are considering a UK corporate or personal account in the UK, there are a plethora of banking options available. Starting with the ‘retail’ likes of Barclays, HSBC, Lloyds and NatWest, then there are the challenger banks which are digital such as Revolut or Monzo…
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Funding the journey to ‘the promised land’ Over the course of my twenty-year career as a business school academic, and the co-founder of Cambridge’s largest technology accelerator, I have been fortunate enough to mentor over 250 high growth ventures. I’ve witnessed spectacular success in the form of IPOs and nine-digit…
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Knee Jerk v Big Picture I don’t think I’m the first person to suggest we are living in ‘interesting’ times. What has been described as an old Chinese Curse, has sadly become a daily challenge. After almost a year of the Covid Pandemic around the globe every life has been…
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Land and Expand Part VI - Overseas Banking Brilliantly ebullient, basically brazen – how to open your overseas bank account and remain rational We are often asked: what is the most common complaint when setting up in new territories? Setting up overseas banking facilities. With the ability to make international…
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Filing an FBAR Are you a US Corporate operating non-US resident bank accounts? Are your key people compliant with FBAR? Have you advised your US signatories of their risks? Briars has a simple solution…. Your favourite subject – filing tax returns! What can go wrong?? In 1789, Benjamin Franklin uttered…
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In Utmost Good Faith In these challenging times, we are all looking for surety and stability and of course financial security. The principle of an Insurance policy, be it for your car, your home, your business remains the same in that it can be relied upon to provide financial protection…
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Resilience is critical to leadership success “Life doesn’t get easier or more forgiving, we get stronger and more resilient.” ― Steve Maraboli Resilience is foundational to success. One constant in life is the inevitable flow of perpetual changes. In a turbulent environment, including this incredibly challenging year, it becomes challenging…
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Land and Expand part V - Insurances As we walk through the Land & Expand journey, we reach the fifth stage, being Insurances. Often overlooked in the process but necessary to ensure that your overseas trading entity, your board of directors, your employees, your customers and your supply chain are…
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A Risk Management primer, for a new company landing and expanding in New York Historically a melting pot, New York is a diverse metropolitan area, which translates well for entrepreneurs of all ethnic backgrounds. Of the approximately 8.5 million people living in the city, more than one-third are foreign-born, the…
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At risk – Companies and Directors The most likely entity that a foreign company establishing itself in the UK will form is a limited liability company. A. Limited Liability company and its shareholders A limited liability company will create a barrier of protection between risk and its shareholders. Shareholders cannot…
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Virtual Meeting Expert Jon Hammond offers Six Tips to Online Meeting Success I hope you agree, we are all in a new world when it comes to business meetings. The leadership challenge of how to influencing/persuade teams that are likely to be remote has taken on a new dimension. Some…
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Are you really ready for Brexit? Join The Company of Entrepreneurs' sponsors as they host an online Brexit briefing at the end of this week's Global Entrepreneurship Week. Friday 20th at 11am - One Hour, Three Experts and hosted by the talented Jon Hammond. If you've got Brexit questions then…
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Land and Expand part IV - Local Country Incorporation As we reach stage 4 of our Land & Expand journey, our attention turns to incorporation and an overview of what should be considered. We have chosen to focus on the UK however, the underlying approach varies little between countries and…
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California’s Proposition 22: It Passed, Now What? Paul Mello and William D. Taylor* California, for better or worse, has long been on the leading edge of labor and employment law developments that have broadly impacted business in general and the transportation industry in particular. Often California’s courts are quick to…
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Corporate Compliance, Best Practice and Company Secretaries The role and duties of the UK Company Secretary are often overlooked by a board of directors focussed on managing an SME, especially in the current climate. This is heightened by the fact that said SMEs are not required to appoint a company…
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Expand or Contract – Flex or Commit? The global commercial real estate market is reeling. For a market that operates on precedents, a respiratory disease on a global scale has literally ripped the bottom out of the home of many commercial trading entities. Feeling the effects Commercial real estate be…
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The United Kingdom consistently ranks as a magnet for global entrepreneurs year-in, year-out. With its thriving markets, robust legal framework, and welcoming attitude towards startups, it's no surprise that British cities continue to become popular among ambitious professionals worldwide. As a premier global PEO, we understand the significance of well-informed…
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Setting up business in California When I was asked to write an article about the practicalities and pitfalls of setting up and doing business in California, I had an immediate negative reaction to the state I have called home for a decade. As a long-time Board Member, COO, CFO and…
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California Dreamin’? What to Know About Living and Working in California The U.S. immigration process has become a high-stakes undertaking for many professionals, entrepreneurs, and employers. Still, coming to California to live the life of your dreams remains possible. The key to achieving your dreams is identifying your long-term goals,…
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Avoiding the new plague: ‘International Zoomitis’! – make your online conversations count Do you remember the days when you could have a chat around the water cooler and exchange stories with colleagues, without having to be two metres apart? When you didn’t have to try and understand what people were…
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Global Mobility and UK Tax Global mobility remains restrained today. However, despite the current pandemic, some businesses are taking those first tentative steps to place key players overseas, driven by the need to ensure business survival. From the perspective of those on the move, what does this mean to employer…
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Case Study: Relocation from Germany to Richmond, London during COVID times We were referred these VVIP clients and asked to support their relocation to the UK at what was a very tricky time, both domestically and internationally, due to the COVID outbreak. The UK had recently imposed quarantine measures for…
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Key currencies at a glance Since the outbreak of COVID-19, currency market participants have paid less attention to economic data. However, in the wake of several important central bank decisions, we could see a return back to traditional fundamentals moving the market. OFXperts expect the key drivers to be: Central…
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Land and Expand part III – Global Mobility – GEO/PEO/EOR Welcome to our 3rd Land and Expand article! So far, we have touched upon planning and good governance as you expand. Today, let’s tackle the confusion that appears to exist when discussing: PEO Professional Employer Organisation GEO Global Employer Organisation…
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COVID-19 and foreign national workers in The United States Over the last three months, stay-at-home orders have become commonplace around the United States due to the COVID-19 pandemic. For foreign national workers who are employed by multinational corporations and businesses, these orders have practically broadened into “stay-in-country” directives. The visa…
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What’s in a reputation? The Billionaire and Founder of Amazon.com Jeff Bezos once said, ‘Your Reputation is what people talk about when you leave the room’. They are very difficult to quantify and measure, but we all have one, and hopefully yours is positive and one to be proud of.…
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International HR management There is an increasing move for organisations to go global, particularly today with international trade considered to be the norm and not the exception. This change may be driven by the need to reach out to new territories to increase sales, or to reduce operating costs, or…
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Corporate Criminal Offence investigations continue despite pandemic HM Revenue & Customs (HMRC) has 10 live corporate criminal offence (CCO) investigations according to new statistics. The UK government department also has a further 22 live opportunities currently under review. It has opened one new investigation since December 2019. Wide ranging investigations…
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Investors, innovators, start-ups and talent – UK work-based visas There are currently four UK work-based visas available for investors, business development and talent. Having the correct Visa in place is essential if you are looking to expand your business to the UK. Understanding which is the most appropriate is the…
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Global leadership: an overview of the qualities French employment law expects from directors and top executives In global companies, as business grows, boards of directors wish to include the most-qualified members to define strategy, nurture innovation, promote sustainability, define scalability and capability as well as lead people. What better place…
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Land and Expand part II: Global corporate structure Last month we introduced the first in our series of articles taking a short glimpse into Briars 18-stage roadmap. Our August newsletter focuses upon Global Leadership and in keeping with that theme lets consider the thought process of boards and investors as…
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Why manufacturing and tourism fare badly during economic crises Manufacturing and tourism are two key drivers in some of the world’s major economies. They are also sectors hit disproportionately hard during an economic crisis, when discretionary spending declines. During a crisis caused by a pandemic, both supply and demand are…
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Are you one of them? (a global Leader who unknowingly may be risking their reputation?) Reputation Coach Jon Hammond spoke to the Briars Group, about how virtual meetings can be enhanced, and business reputations boosted by taking some simple measures. I was talking to a group of influential leaders on…
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Weekly progression toward longer term achievements We are encouraged to produce longer term business plans by orthodox thinking. I used to set business goals based on the long term and agonised over projections virtually all of which turned out to be useless. Any short-term accuracy was soon lost to external…
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What is a company board for now? By Professor Bob Garratt Published online by the Royal Society of Arts Building Bridges To the Future Post-Covid series. This essay is a provocation to all involved in corporate governance, and a practical response triggered by Bob’s clients, students and colleagues asking him…
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Redundancy pay paid to furloughed workers based on normal wages From Friday 31st July 2020, furloughed workers losing their jobs became eligible for redundancy pay based on their normal wages and not their furlough rate. The new law ensured that workers now receive their full pay-off, said Business Secretary Alok…
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Could your business benefit from reduced employer costs for a first employee in Belgium this year? According to Briars’ Belgium partner Pro-Pay, it is distinctly possible. For a company that has never hired an employee in Belgium before, the cost of labour is reduced due to lower employer social security…
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Plan for Recovery There are a lot of articles and resources dedicated to helping businesses think differently and adjust post Covid-19. Changing your strategy and business model is inevitable for many businesses, BUT the question as to whether you rebound and survive will all come down to how well you…
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Filing US tax returns is a well-known responsibility of American ex-pats, but the Foreign Bank Account Report (FBAR) is often forgotten. This can be costly, as failing to file the FBAR can draw the attention of the IRS, and lead to some harsh penalties. A United States person that has…
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Crises that affect world markets tend to hit with little warning and major impacts, leaving everyone from traders and investors rushing to find ways to limit their losses while the catastrophe unfolds. The various crises we have seen in the last 50 years have happened for many different reasons, but…
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Getting economies back on their feet whilst trying to control the spread of an invisible killer. Those are the general aims of responding to Covid-19 - the world’s most unwelcome recent visitor. All economies that have the resources are more or less following similar practices such as social distancing (at…
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Is there a straightforward answer? Irrespective of where in the world you want to open that next office, adherence to a tried and tested roadmap to guide you through the underlying requirements will be essential. This generic map is subsequently anchored by local laws, tailoring your solution to ensure ongoing…
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Chancellor's Summer statement A temporary cut in the sales tax from 20% to 5% has been announced by the UK government for attractions, meals and accommodation. Chancellor Rishi Sunak proposed the measure during his Summer Statement in order to provide relief for some of the sectors worst hit by the…
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A Companies House publication has been released explaining how filing requirements will change as a result of the UK government’s coronavirus (Covid-19) support measures. The document has been produced to provide guidance on how the measures introduced by the Corporate Insolvency and Governance Act and The Companies etc. (Filing Requirements)…
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The government has proposed a flexible way out of furlough for the millions affected. As of the 14th June, approximately 9.1 million jobs from 1.1 million employers were furloughed in the UK. However, the sheer cost of the Coronavirus Job Retention Scheme (CJRS) means it will have to change in…
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Currency markets don’t like uncertainty. Few of us do. That’s why we want to give you options on how to plan for currency exposure with some level of certainty. Because even in the middle of all this, businesses still need to move money globally. Currency markets have seen some violent…
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If you are considering relocating to the UK, there will always be some apprehension, as well as excitement for the journey ahead. This is true whether you are considering moving yourself or relocating an assignee, and especially if the move involves the whole family - as there will be more…
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No matter where you are in the world, the recent Covid crisis has given us an opportunity. It has given us the time and need to reflect on effectiveness and skillsets of our organisations, our people and indeed ourselves. So what conclusions have you come to? Many of the clients…
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Why Italy? Italy has a history of businesses being tied up by bureaucracy and with high cost of employment, these issues are still prevalent, but times are changing…. The government realises that it needs to create the right type of environment to stimulate both business and the employment of skilled…
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All UK VAT registered businesses are eligible to defer payments due between 20 March 2020 and 30 June 2020. Business may, should they choose to, continue to pay as usual but have the option of delaying until March 2021. VAT payments you can defer These are the only payments a…
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In a single year, HM Revenue & Customs’ (HMRC) crackdown on overseas tax evasion has seen a massive increase in the number of people admitting to not paying tax. According to a Freedom of Information (FOI) request, 867 British expats declared they failed to pay the amount they owed in…
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Changes to regulations mean that workers will now be able to carry over untaken annual leave into the next two leave years. This applies where they have been unable to take leave due to the COVID-19 pandemic. In this article Andrew Brierley, Briars Group Chairman, takes a look at the regulations,…
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Company directors, along with everyone else, are living in a new world. The global response to the coronavirus outbreak has reshaped the business landscape. Even once the immediate Covid-19 crisis has passed, no-one can be certain what the new-normal will be. However, despite the instability, we are all still required…
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What has changed? From 6 April 2020, the requirement to provide a written statement of terms and conditions extends to workers, not just employees. This now includes casual and zero hours workers. Employers must provide their workers and employees with their written statement on or before their first day of employment, no…
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Under new Financial Conduct Authority proposals published this week, nine out of ten firms will have until the end of 2020 to pay their regulatory fees and levies. The concessions have been made to smaller advice firms in light of the coronavirus pandemic. The proposals published by the FCA stated…
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The UK government’s loan scheme to assist businesses hit by the coronavirus outbreak has been overhauled. Initial measures, including government guaranteed loans amounting to £330 bn were announced in response to the disruption caused by COVID-19. However, several problems with the scheme have since been identified and changes have been…
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The Government have issued a range of measures to assist businesses in the UK following the coronavirus outbreak here. We have produced an initial report and a more detailed look at CBILS, but what follows is a brief summary of the measures being offered: Job Retention Scheme to reduce the…
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The UK Government has set out a package of temporary interventions to support people and businesses during the period of disruption caused by COVID-19. This package, which has been published in full on the gov.uk website, includes: a Coronavirus Job Retention Scheme deferring VAT and Income Tax payments a Statutory…
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You might have heard about IR35 changes planned for April 2023. However, in October 2022, Chancellor Jeremy Hunt announced he would scrap most of the unfunded tax cuts predicted in the mini-budget, which also affects IR35. As of July 2023, there have been no changes regarding the IR35 legislation, and…
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The planned changes to the UK’s Inland Revenue 35 (IR35) Laws are intended to create a clear distinction between independent contractors and full-time employees. By determining employment status, HMRC hopes to ensure that proper tax contributions are obtained. In order to achieve this, IR35 shifts the responsibility for determining the…
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A Remarkable Transformation Real minimum wages have increased across Europe this year. The increases have been highest in the Southern and Eastern European countries where minimum wages are the lowest. The only exception has been Latvia and perhaps only temporarily, as the three-year agreement between employers, employees and the government…
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A no-deal scenario Freedom of Movement is due to end in the United Kingdom on 31st October 2019. As with everything Brexit related, this is not certain. At the time of writing, no Brexit deal has been reached between the UK and the European Union. The UK’s deadline may be…
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Through a Time Window, Darkly In April 2020, new rules will be taking effect regarding Capital Gains Tax (CGT). The policy change from HMRC aims ‘to improve collection of CGT by reducing error and increasing compliance; customers will have 30 days following property disposal to file their return and make…
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MTD has landed We first examined Making Tax Digital (MTD), and the arguments surrounding it, back in 2017. Now that the dust has settled and MTD has come into force, it seems a good time for another look. From VAT periods commencing 1st April, MTD now applies for most companies…
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Identity and security In March 2019 a Lithuanian man was convicted for stealing over $100 million from Google and Facebook through a wire fraud scam. Evaldas Rimasauskas impersonated an Asian hardware vendor and, over a three-year period, sent fraudulent invoices for items that had never been sold or provided. The…
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Shining a spotlight The #MeToo movement has put sexual harassment in the spotlight, initially driven by a surge of allegations against high profile and celebrity figures and the subsequent injunctions that aim to keep allegations out of the public eye. However, the movement has grown beyond Hollywood, found widespread support…
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Open All Seasons The sun never stops shining. Businesses that have expanded to the UK will be familiar with the local unpredictable weather. They will also understand that, though you can’t always see it, the sun rises every day. Whether obscured by Atlantic cloud or London fog, the sun still…
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