Until this year, UK employers had to acquire physical documents from their employees as proof of their right to work in the UK, a process many found needlessly cumbersome. Employers may now fulfil their obligations using an online service, which provides real-time information on migrants’ right-to-work status.
If you’re a U.S. taxpayer with a bank account outside the country, you may need file an FBAR, which is used to report foreign account information to the U.S. government. Failure to file can result in severe penalties, with fines as high as $100,000 or 50% of the account's balance.
A G7 group issued a report saying considerable work needs to be done before Facebook’s much-hyped Libra currency could gain approval and warning that cryptocurrencies could destabilise the global financial system unless they’re tightly regulated.
Whether you’re thinking about international expansion for the first time or are experienced at maintaining operations in multiple countries, there’s a strong chance you’ll benefit from this comprehensive review of cross-border considerations.
The UK’s off-payroll working rules, commonly referred to as IR35, tell employers how to classify contractors and other workers. They’re already complex, but changes effective next year will make them even more difficult to understand and follow. We tell you what you need to do to prepare.