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These are exciting times for Dubai and the UAE. With the entire business world’s attention soon to turn to the Emirates with the delayed Expo 2020 kicking off in October (and continuing all the way through to the end of March next year) it’s never been a better time to be a UAE business owner
The concierge service provides a one-stop shop to help maritime businesses interact with government departments.
British rail companies are on track for a potential export boom thanks to the UK-Australia trade deal.
How you import from and export to Mexico.
As more economies around the world open up and companies bring employees back to the office, global expansion plans that may have been put on hold last year are now taking shape. It can be challenging to know where to start, but here are some key factors to consider when expanding your operations into new countries.
New UK Leadership could impact global operation
Boris Johnson has been elected the new Prime Minister of England. Along with any new leadership, he will bring with him new ideas, Brexit plans, and more. So how could this impact your global operations? Let’s look at few potential changes for companies operating in the UK:
The new Prime Minister has been very vocal about Brexit and his views on leaving the EU with or without a deal. The EU has made it clear they are not willing to re-negotiate the agreement that was made with the former Prime Minister Theresa May, so Johnson will have to work within the limits of the agreement or leave the EU with no deal. A “no-deal” Brexit could impact trade and commerce between the EU and UK, so if you have employees living and/or working in the UK the Brexit negotiations are an important factor for your global operations.
Johnson has previously stated that he would like to amend the 40% higher tax levels to employees earning £80,000 or more instead of the current £50,000. This change would impact companies with employees in the UK who are currently being taxed at the higher levels, so payroll teams need to be aware that these changes could be coming in the next year.
With Johnson continuing the no-deal Brexit talks, the pound value has flat-lined. If the no deal Brexit moves forward, the UK economy could suffer – especially in Ireland. As the markets react to new changes and the Brexit date set by the EU gets closer, the global economy will be looking to the EU and UK for the outcome of this next chapter. For US companies, the lower pound value could be a positive change, but if the pound increases it will be more expensive to do business and pay employees in the UK.
Just as with any change, there are uncertainties and a period of “wait and see”. Getting your payroll and compliance under control now can save time and resources later. To learn more about simplifying payroll, click here