The content rich agenda including global tax and immigration updates led to a full day of learning and networking at our recent Bite Size Briefing. The presentations were timed to perfection, relevant and thought provoking. The networking was superb and the corporate panel session on Equality, Diversity and Inclusion sparked strategic discussions on how Global Mobility professionals can drive change in their organisations.
Read on for a summary of the day. Full copies of the presentations can be found on the Expat Academy Vault.
Andrew Kelly and Sukhraj Kandola from BDO started the day with a brilliant update on the latest expatriate tax issues. They stripped away the jargon to explain clearly the tax rules relating to short term business visitors (STBVs). Using a box junction analogy, they helped us understand that best practice is to be mindful of entering a territory before researching in advance, how you exit and how much your visit may cost in tax and social security.
In addition, BDO advised that we should be aware of individuals from the UK who habitually reside in another EU state for more than 25% of their time. You may have to put them on the overseas payroll from the day they arrive. Most noteworthy are France and Italy due to the high cost of social security.
Next, BDO updated us on US tax issues. We learnt that the rate of Federal US tax has dropped to 37%. We also heard that the rate of corporation tax in the US has been reduced from 35% to 21%. The US is open for business and is trying to attract US companies to return home to trade. Furthermore, there has been a decrease in the amount of itemised deductions which can be claimed and finally moving expenses are now taxable. They advised us to dig out our tax equalisation policies to amend them for these changes.
BDO generously offered to keep us up to date on all things relating to expatriate tax with their monthly newsletter. If you’d like to be added to their mailing list click here.
The next speaker was Andrew Wright from Learnlight. Andrew made us stop and think about the power of networking. He gave us some sound advice on how to approach networking. The key message was that when you meet a new professional contact, think about how you can help them rather than what you can take from them. We put the techniques straight into practice at our tea and coffee break and came back, fully refreshed for the next presentation of the day.
Link with Recruitment
Des Mckell at Plus Relocation turned our attention to the candidate experience. He explained that organisations were twelve times more likely to feature on Glassdoor as a great place to work if they improve their new hire experience. Des shared with us recent survey data on the relationship between recruiters and Global Mobility and he finished with some top tips on how to improve the candidate experience for international new hires.
Just before lunch, Gordan Walsh from Polaris – a Move Guides company, updated us on the latest trends in GM technology. First, we learnt that clients are asking for new destinations to be built into GM technology. The most recent requests have been for Costa Rica, Kazakhstan, Portugal, Bahrain and Mexico. Next we learnt that the demand for real time information and search functionality were high on the agenda for assignees. It seems like the ability to access a system 24 hours a day with one log in from anywhere in the world is also very desirable to assignees.
After a delicious lunch provided by our hosts BDO, we enjoyed two great sessions on the employment and immigration law challenges from around the globe.
Annabel Mace from Squire Patton Boggs started with an update on changes to employment law in France. The French are simplifying the law on dismissals. They are also simplyifying employee bodies in a bid to boost their economy. One reason is to make France an attractive option for corporates following Brexit. Next, Annabel took us on a quick Global tour of employment law. We learnt about South East Asia, the Middle East and South America. Finlly there was a fun quiz to win chocolate and test our knowledge.
Kerry Hough from Magrath Sheldrick, updated us on changes to the Australian, Brazilian and Chinese immigration systems. Joanne Taylor wrapped up with news on UK immigration. Including the news that the NHS surcharge will double to £400 per person, per year later this year.
Equality Diversity and Inclusion
We finished the day with a corporate panel on Equality, Diversity and Inclusion. Priscilla Monticelli, Publicis, Stuart Ferguson, Deloitte and Gill Paulley, Arup answered questions on how assignees are selected and what steps they suggest to meet EDI targets
Thank you to everyone involved in making the day so enjoyable and informative. To sign up now for our next Bite Size Briefing on 11 June 2018, click here.