Radius Contently Case Study
Transcription
Radius Contently Case Study
Case Study Contently: Advanced Expat Planning With a Trusted Partner When Contently decided to send a trusted employee abroad during its first international expansion, it turned to Radius to provide expert global mobility advice and services, from obtaining the proper visa to structuring compensation to managing annual tax returns. BACKGROUND Contently provides enterprise companies with smart technology, content marketing expertise and vetted creative talent — journalists, INDUSTRY photographers, designers, videographers and all things in between. Content Marketing Contently counts some of the best content marketing brands in the Software and world as its clients. It was named one of Inc. magazine’s 100 fastestServices growing private companies. COUNTRIES United Kingdom CHALLENGES Sending a US citizen to the UK for the first time: Contently looked to expand into the UK’s promising market, with an eye towards expanding into other European countries later. The company had no trading presence and lacked detailed knowledge of UK immigration, expatriate compensation structuring and tax requirements. Keeping the expat employee on a US payroll while fulfilling home- and host-country withholding requirements: Contently wanted advice on favorable payroll solutions, ideally to maintain the employee on a US payroll while making withholdings and remittances in both the US and the UK. Ensuring that Contently’s expat employees did not suffer tax losses: Contently wanted to make current and future expat assignments equally appealing, in part by protecting its employees from possible negative tax consequences. •Obtained a sole representative visa so the expat could work in the UK. •Structured an optimal expat compensation package based on company philosophy. •Developed a tax equalization policy, protecting all assignees from income tax losses. •Drafted an assignment letter, applied for UK social security coverage and implemented a UK shadow payroll. •Trained Contently employees on how to run UK payrolls, hypothetical tax calculations and expat departure and arrival briefings. •Reduced risks by obtaining the proper UK visa, making required tax and social registrations, and establishing a compliant shadow payroll. •Promoted employee engagement by developing a tax equalization policy that protects expats from tax losses. •Lowered ongoing costs by providing instruction on running UK payrolls, hypo tax calculations and expat trainings. “ SOLUTIONS •Completed expat’s year-end UK and US income tax returns. Benefits Expat assignments are complicated. I trust Radius to keep us compliant with local authorities and keep our valued employees happy.” Gavin Power, Vice President of Finance, Contently “ RADIUS EXPERT TIP When sending an employee abroad, it’s critical to plan well in advance because there are so many factors to consider and obligations to fulfill. For most countries, I recommend starting the process at least three months before the anticipated start date.” Katie Davies, Senior Director, Radius Global Growth Experts INTERNATIONAL SERVICES Radius helps companies expand and win globally. Clients from startups to larger multinationals take advantage of Radius’ international accounting, finance, banking, tax, HR, legal and compliance support to simplify their core operations, reduce their risk exposure and improve the management and control of their overseas businesses. Banking For more information, please visit www.radiusworldwide.com. • Cash Management • Treasury Services Finance • Financial Accounting • Global Payroll Compliance • Proactive Risk Management • Filing • Record Keeping Human Resources • Employment Law • Mandatory and Customary Benefits • Global Mobility Tax • Tax Planning and Structures • Indirect Taxes • Statutory Tax Obligations Legal • Incorporation and Registration • Corporate Governance • Scoping US: +1 888 881 6576 UK: +44 (0) 203 005 5518 www.radiusworldwide.com ©2016 Radius. All rights reserved.
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