United Kingdom
HR and 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).
Tax Rates
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.
The Bribery Act was passed in 2010. The consequences of bribery under this act include 10 years in prison, an unlimited monetary fine, confiscation of property (in some cases) under the Proceeds of Crime Act of 2002, and removal of directors under the Companies Directors Disqualification Act of 1986.
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
