UK Election and Brexit
Now that the UK election is over, Prime Minister Boris Johnson is following through on his promise to deliver Brexit by 31 January. Parliament has approved the Withdrawal Agreement Bill that will now be sent to the House of Lords for approval. There will be less than a year for Britain and the EU to determine the course for trade agreements and other issues before the UK leaves the EU in December 2020.
As the UK lawmakers determine the details of the Brexit plan and negotiate with EU leaders, there will be business impacts for UK businesses that most likely will not take effect until January 2021. It is important to prepare for what is coming, including new rules for immigration and visa applications.
Johnson is planning to fast-track some types of visas to inspire doctors and other healthcare workers to work and live in the UK. There is also a plan to develop a points-based system for immigration that would attract English speaking, highly-skilled workers without criminal records. If your business is looking to employ highly skilled workers from other countries, these new regulations could help streamline and accelerate your efforts to hire people from other countries.
Payroll and benefits could also change as a result of the new Brexit talks and the Prime Minister’s plans for future growth. Staying ahead of the new regulations will be vital to maintain compliance for your workforce in the UK. Payescape has created easy-to-use software to manage payroll and HR admin, with automated updates each year to ensure compliance with current regulations. You can create custom reports each month to track spending and spot trends, and make adjustments where necessary.
If you are managing employee payroll and wondering how Brexit and other proposed legislation will affect your business, talk to us. We can help you simplify the payroll and HR process, ensure compliance, and provide direct filing with HMRC. To learn more, click here