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United Kingdom - HR & HR Software Guide

Country Overview:

The United Kingdom is made up of Scotland, England, Wales, and Northern Ireland, with the larger entity known as Great Britain and Northern Ireland. Northern Ireland shares a border with the Republic of Ireland, dividing the large island. For centuries, the United Kingdom was a global colonial power and is still a significant economic power on the world stage.

Capital City: 

London

Currency:

Pound Sterling (GBP)

Principal Language: 

English

Government:

Parliamentary Constitutional Monarchy

The UK uses either written, verbal, or implicit contracts. However, in many jurisdictions, it is a necessity to have a written agreement. 

Following are the statutory national holidays:     

  • January 1 – New Year’s Day 
  • April 2 – Good Friday 
  • May 3 – Early May Bank Holiday 
  • May 31 – Spring Bank Holiday 
  • December 25 – Christmas Day 
  • December 26 – Boxing Day 
  • December 27 – Substitute Bank Holiday for Christmas Day 
  • December 28 – Substitute Bank Holiday for Boxing Day

Accounting

The accounting standards follow the UK GAAP (Generally Accepted Accounting Practice).

Taxes

Corporate Tax 

The corporate tax rate in the UK is 19%. 

Value Added Tax (VAT) 

The VAT rate in the UK is 20%. 

The European Union’s General Data Protection Regulation (GDPR) applies to the United Kingdom as of May 25, 2018.

Simplify workforce management in United Kingdom with Mihi HR Software.

  • Accelerate employee onboarding with established workflows and guided processes that allow your new employees to hit the ground running from day one.
  • Improve employee time tracking and leave management while ensuring compliance with local labor laws and work-time regulations.
  • Store, manage, and track employee data on a single, secure system. Improve access and visibility, while built-in guidelines help you maintain legal compliance and audit readiness.
  • Turn workforce data into actionable insights with extensive HR reporting and analytics. Make better, more informed decisions and accurately assess the status of your global teams.
  • Provide your employees with the support they need with 24/7 access to our Employee Helpdesk.
  • One HR software for your global needs
  • Ensured compliance with in-country employment and labor laws
  • Connectivity and integrations with ERP and Payroll systems
  • Better workforce data and increased visibility of global teams
  • Supporting 170+ countries and localized in 17+ languages
  • Improved employee experience with employee self-service functionality and 24/7 employee support

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