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Business Risk Services
Our Business Risk Services team deliver practical and pragmatic solutions that support clients in growing and protecting the inherent value of their businesses.
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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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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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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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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 Ireland 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.
The Brexit clock is ticking and there are only 25 days left until the UK will leave the EU. Brexit will happen on 29 March 2019 unless the UK unilaterally halts the whole thing and revokes Article 50, or the UK Parliament asks Theresa May to seek an extension of Article 50 to delay Brexit and the EU unanimously agrees.
Last week, pressure from numerous MPs forced the hands of both the UK Prime Minister, Theresa May, when she agreed to offer a vote on extending Article 50, and the Labour party leader, Jeremy Corbyn, when he announced support for a second referendum.
Behind the scenes, the UK government continued to negotiate in Brussels on changes to the ‘backstop’ arrangements in the EU-UK Withdrawal Agreement. There has been little sign of progress but the fact that things have gone quiet publicly may indicate more serious negotiations are taking place.
What happens next?
A lot is set to happen over the next ten days, which we have outlined in our flowchart below:
The second ‘meaningful vote’ by Parliament on the Withdrawal Agreement (which should include any concessions that have been agreed with the EU) should happen on or before 12 March. If UK MPs approve the deal, it will then go back to Brussels again for approval at the EU Council on 21 March.
The second ‘meaningful vote’ by Parliament on the Withdrawal Agreement (which should include any concessions that have been agreed with the EU) should happen on or before 12 March. If UK MPs approve the deal, it will then go back to Brussels again for approval at the EU Council on 21 March.
If Parliament votes against the deal (and subject to any amendments), there is likely to be a vote the next day on whether MPs would like a No Deal Brexit. If MPs vote for No Deal, then the EU Council on 21 March would focus on triggering final No Deal contingency plans and would give businesses two weeks to prepare. If MPs vote against No Deal, then there will be a further vote the next day (by or on 14 March) on extending Article 50, which will allow Brexit day to be delayed beyond 29 March in order to find time to reach an agreement and/or to better prepare for No Deal. This extension, including any terms and conditions, must be agreed unanimously by all EU leaders.
What planning can your business do at this stage?
Based on what our clients are doing across different sectors:
- If you have been waiting for greater clarity before planning for Brexit, do not wait any longer. Develop a No Deal contingency plan now. No Deal remains the legal default on 29 March and may well be the outcome at the end of any potential extension.
- If you have a No Deal plan, activate it. You should also review how you can scale it back, put it on hold or reactivate if there is a Deal or extension. A strategy for flexing supply chain, production and sales is important. Review what priority orders or seasonal demand could be disrupted if we have No Deal in June 2019.
- If you are already implementing your No Deal plan and have flex built in and you know how you will manage any delays, start thinking more long term about the competitive business environment and opportunities and risks of longer term political decisions (e.g. future operating models and efficiency; future trade policy and tariffs – international markets and sourcing; how to attract talent and skills; M&A targets; changes in public spending).
