United Kingdom - HR & HR Software Guide
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.
Pound Sterling (GBP)
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
The accounting standards follow the UK GAAP (Generally Accepted Accounting Practice).
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