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Corporate Finance and Deal Advisory
We offer a dedicated team of experienced individuals with a focus on successfully executing transactions for corporates and financial institutions. We offer an integrated approach, with our corporate finance specialists working seamlessly with tax and other specialists to ensure that every angle is covered.
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Digital Risk
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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Technology Consulting
Motivating and assisting our clients to pursue, maintain and secure the benefits of digital solutions is at the core of our Digital Transformation teams' agenda and goals. We work with business leaders to deliver efficient digital strategies and operating models that provide new or enhanced capabilities.
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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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Restructuring
We work with a wide variety of clients and stakeholders such as high street banks, private equity funds, directors, government agencies and creditors to implement solutions which provide the best possible outcomes.
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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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Employer Solutions
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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Entrepreneur and Private Client Taxes
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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Outsourced Payroll
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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Tax Disputes and Investigations
Our Tax Disputes and Investigation team is made up of tax experts and former HMRC investigators who have years of experience in dealing with a variety of tax investigations. Our expertise and insight can guide you through all interactions, keeping your cost at a minimum while allowing you to continue with the day to day running of your business.
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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.
What is your New Year’s Resolution?
02 Jan 2018The New Year is a time for reflection and the setting of New Year’s Resolutions. Looking back, Brexit negotiations dominated the headlines in 2017, but it was an eventful year for a number of other reasons, including the explosion in value of Bitcoin, and the first rise in Bank of England interest rates for over a decade.
It is now also over a decade since the initial problems with the sub-prime mortgage market in the USA spread to Europe. In the autumn of 2007, many of us watched on TV the queues forming outside the Northern Rock branches as depositors demanded their savings back. The UK’s fifth largest mortgage lender was forced to approach the Bank of England for funding and it eventually fell to state ownership in February 2008. Further state control of the UK banks continued in 2008 including Royal Bank of Scotland, Lloyds, TSB and HBOS. The largest insolvency in history occurred on 15 September 2008, when Lehman Brothers, the US investment bank, filed for bankruptcy with assets worth $639bn. For insolvency practitioners this was going to be a busy time!
Where are we 10 years later?
In November 2017, the Bank of England (“BOE”) produced its Financial Stability Report which included the results of the stress tests on the UK banks. The results are very positive as the BOE believes that the UK banking system is resilient to deep simultaneous recessions in the UK and global economies. For the first time since the stress tests were launched in 2014, no bank needs to strengthen its capital position. It appears that the UK banking system has now recovered from the crisis.
Other economic data in late 2017 however, is not so positive. Inflation, as measured by the Consumer Price Index (CPI), rose to 3.1% in November 2017 and wages rises are expected to remain around 2% therefore creating a squeeze on household incomes. Despite growth in exports fuelled by weak sterling, economic growth for NI is predicted to be in the region of 1% during 2018. Following the first interest rate rise in November 2017, further increases are expected in 2018, and, of course, we still have Brexit to deal with!
Insolvency practitioners are already seeing the impact of those challenges. In October 2017, Monarch Airlines entered administration, the biggest UK airline to enter insolvency. In November 2017, Palmer & Harvey, one of the largest wholesalers in the UK with 90,000 customers and 3,400 staff, also entered administration. In December 2017, Toys R Us proposed a Company Voluntary Arrangement (“CVA”) with its creditors in an effort to change its business model and deal with its lease liabilities.
Although 10 years have passed since the start of the financial crisis, many businesses in Northern Ireland cannot take survival for granted. Some sectors will undoubtedly continue to experience growth. However, taking time to prepare for a challenging economic environment in 2018 may be time well spent, and perhaps a good New Year’s Resolution for many.