United Kingdom & Northern Ireland

Overview

Situated off the Northwest part of Europe, the United Kingdom is a country comprising the island of Great Britain – which includes Scotland, Wales and London – along with Northern Ireland. London, the capital city, is a dominant international financial center and rates amongst one of the best places to do business in the world. With a population of over 66 million, the UK is a major center for global economy.

At Global Upside, we can help your business or organization hire employees in the United Kingdom, in addition to establishing a legal overseas office.

  • Global Upside manages services such as talent acquisition, human resources, accounting and payroll globally. Our team provides an end-to-end service to keep all the business operations running smoothly.
  • The hiring process in France can be complicated, not to mention the time-consuming and expensive process of starting a branch office. We help to lift that burden from your business.
  • We not only hire employees on your behalf, but also take care of any legal formalities involved.

Capital City

London

Currency

Pound Sterling (£)

Language

English

Government

Unitary parliamentary, Constitutional monarchy

Country Overview

According to the CIA World Factbook, Switzerland is known to have a low unemployment ratio, including an extremely skilled workforce. High-tech manufacturing and low corporate tax rates create a strong economy. The country is 2nd best in terms of business friendliness and ranks 1st amongst all the 44 European countries. Here are a few other interesting facts you might not know about Switzerland:

  • Ranks as the 20th largest economy in the world by nominal GDP.
  • Ranks as the 9th largest economy in Europe.
  • Low manufacturing costs.
  • Has no hidden policies of government practices.

Legal Entity Setup

There are various forms of establishment of a business in the UK and they are:

Representative Office

Representative Office is also known as a branch is not a discrete legal entity and is the mere presence of an overseas office. It is comparatively easier and less expensive to form a branch. The parent company is accountable for all the relevant debts of the company.

Limited Liability Partnership (LLP)

Limited Liability Partnership (LLP) is a must that there should be at least 2 selected members who can carry out all the lawful business profitably.

Limited Company

i) Private Limited Company – is the most prevalent business arrangement in the UK and it is mandatory that the company name must comply with Government regulations. Additionally the company needs to have a listed office in the UK.
ii) Public Limited Company – is an establishment where the cost of operations are higher than their private counterparts. It is pivotal that 2 directors should be appointed.

Limited Partnership

Limited Partnership is formed by minimum 2 people or organization wherein one partner – general partner is liable for all the obligations of the company. The second partner – limited partner is only liable for the amount they have contributed.

Sole Trader

This kind of a set up requires minimal administration and is simpler to operate compared to the other entities.

In the United Kingdom, it takes around two weeks to four weeks to establish a legal entity setup.

Human Resources

As per the Employment Rights Act 1996, the employers need to provide the employees with the employment contact stating the below details –

  • Name of the employer as well as employee in full
  • Job title, description and date of joining
  • Work permit
  • Address of both the parties
  • Remuneration including the interval of payment
  • Working roster and leave pay arrangements
  • Arrangement of pension and other appeals
  • Dismissal policy and notice period

To know more about all the details, please visit the website and register your details.

Payroll

Usually wages are to be paid once a month – either on the 25th or the month’s last banking day.

Accounting

The accounting standards of the United Kingdom is UK GAAP (Generally Accepted Accounting Practice) which has been issued by Financial Reporting Council (FRC) of UK.

Taxation

Corporate Tax

The national corporate tax rate in both the United Kingdom and Northern Ireland is 19%.

Data Privacy/ GDPR

The principal data protection legislation followed in Switzerland is the Federal Act on Data Protection (DPA). This was issued in June 1992 and the Ordinance to the Federal Act on Data Protection (ODPA) came out the following June.

The DPA states that any virtual transaction of employee data is prohibited if not approved by the data subjects.

Anti-bribery & Anti-corruption Law

According to the Swiss Criminal Code (SCC), the meaning of public official is very broad. However, this regulation also includes employees of publicly held establishments if they exercise public roles and private employees.

The penalties are explained below –

  1. Bribery of public officials –

For individuals –

  • Imprisonment of at least 5 years.
  • 5 years of ban from their profession.
  • Monetary fine of at least CHF 10 to CHF 3,000 per day (financial condition is taken into consideration).
  • Seizure of assets and objects that are a result of the felony.

For organization/ legal entity –

  • Financial fine of at least CHF5 million.
  • Confiscation of possessions and items that are a result of the crime.
  1. Bribery of private employees –

For individuals –

  • Imprisonment of at least 3 years.
  • 5 years of ban from their profession.
  • Fiscal fine of at least CHF 10 to CHF 3,000 per day (financial condition is taken into consideration).
  • Capture of resources and properties that are a result of the offence.

For organization/ legal entity –

  • Monetary fine of at least CHF5 million.
  • Repossession of belongings and entities that are a result of the wrongdoing.