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Grant Thornton offers solutions to the digital risk issues you are sure to face. Our skilled and experienced security team can helping by advising and consulting, giving you peace of mind, clear value for money and an enhanced ability to react to attacks.
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Economic Advisory
Our all-island Economics Advisory team combines expertise in economics and business with a wealth of experience across the public and private sectors.
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Forensic Accounting
We have a different way of doing business by delivering real insight through a combination of technical rigour, commercial experience and intuitive judgment. We take pride in delivering responsive and tailored solutions to all our clients, capitalising on the wealth of experience housed within our Belfast and wider Forensics team
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People and Change Consulting
The Grant Thornton People & Change Consulting practice works with clients on these issues as well as on all aspects of how they attract, retain, engage develop, deploy and lead their people.
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Corporate and International Tax
Northern Ireland businesses face further challenges as they operate in the only part of the UK that has a land border with a country offering a lower tax rate.
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Our team specialises in remuneration and incentive planning and works closely with employers, shareholders and employees to ensure that business strategies are aligned and goals achieved in the most tax efficient, cost-effective manner.
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Our team of experienced advisors are on hand to guide you through any decision or transaction ranging from the establishment of new business ventures, to realising value on exit, to succession planning and providing for loved ones.
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Global Mobility Services
Grant Thornton offer a different approach to managing global mobility. We have brought together specialists from our tax, global payroll, people and change and financial accounting teams across Ireland and Northern Ireland, while drawing on the knowledge and insights of our global network of over 143 offices of mobility professionals to provide you with a holistic approach to managing global mobility.
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Our outsourced service provides valued service to over 150 separate PAYE schemes. These ranging from 1 to 1000 employees, working for micro, SME and global employers. The service is supported by the integrated network of tax and global mobility teams and the wider Grant Thornton network delivering a seamless service. Experienced staff deliver a personal service built around your business needs.
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VAT and Indirect Taxes
At Grant Thornton (NI) LLP, our team helps Northern Ireland businesses manage their UK and global indirect tax risks which, as transactional taxes, can quickly become big liabilities.
For landowners across the country, both agricultural property relief (APR) and woodlands relief have played a crucial role in protecting their estates from exposure to inheritance tax (IHT). These reliefs have been particularly important for landowners who do not farm their agricultural land themselves and thus do not qualify for business property relief (BPR).
Historically the scope of these reliefs has extended beyond the UK to include property located in the European Economic Area, the Channel Islands and the Isle of Man. The 2023 Spring Budget however announced plans to restrict these reliefs solely to property located in the UK.
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These changes will be of concern to all landowners within the scope of IHT who currently own land outside the UK, including in particular those who own land in Ireland. Despite recommendations made by Chartered Accountants Ireland to include Ireland within the scope of these reliefs on the basis that these changes will disproportionately affect taxpayers in Northern Ireland owning land across the island, HM Treasury has confirmed that no changes will be made to the proposed restrictions in relation to land in Ireland.
These restrictions are set to take effect from 6 April 2024. In addition to affecting estates where the death falls after this date, lifetime transfers of land made less than seven years before 6 April 2024 are also at risk. If, on or after 6 April 2024, the transferor fails to survive seven years from the date of the gift, the IHT position will be retested under the APR “clawback” provisions and IHT may arise as a consequence of the loss of relief.
It is worth noting that these geographical restrictions do not apply to BPR, meaning that farms and commercially occupied woodlands located outside the UK might not suffer from the loss of APR and/or woodlands relief provided the relevant conditions are met for BPR to apply.
Landowners who have been reliant on APR and/or woodlands relief in respect of property abroad should review their affairs and consider their options. Likewise, trustees holding these assets should consider whether they should be distributed before 6 April 2024 when the benefit of APR will be lost.