Our Brexit Advisory team offer insight and guidance surrounding impacts and opportunities that Brexit has created for organisations.
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.
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.
Our all-island Economics Advisory team combines expertise in economics and business with a wealth of experience across the public and private sectors.
Grant Thornton are the leading provider of eDiscovery services in the country and have been for years. Our incident response team managed the electronic discovery in the largest eDiscovery in Irish history.
Forensic and Investigation Services
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
Finally, in our mini-Brexit series, we are looking at how businesses must make sure they are ‘match-fit’ for Brexit by bringing the focus back to business basics such as operational efficiencies and healthy balance sheets. Taking the ‘wait-and-see’ planning approach to Brexit is risky especially when sufficient clarity may come too late to take crucial action and could lead to the risk of falling behind better-prepared competitors. Planning now by reviewing your operational plans, should ensure you can continue to serve your customers effectively and help assess all of the opportunities and risks.
Despite the economy in Northern Ireland showing growth since the Brexit vote, we are noticing companies struggling to make the right operational and commercial decisions without knowing the full impact Brexit may have on their operations.
The uncertain future has led to many businesses unsure how to forecast revenue or decide whether major change in strategy is required. With only nine months until the official exit date, businesses should:
- plan for uncertainty – undertake a board-level assessment of the potential financial impact of the top five downside-risks and upside-opportunities presented by Brexit;
- re-evaluate operating models – in response to scenario planning and financial modelling, businesses may need to review key parts of their operating model to cater for new realities as Brexit unfolds. Consideration should be given to how operations may need to change in light of the new relationship with Europe, the tax implications on supply chain and the options to restructure, the impact of caving our European operations into new entities and the potential exposure to withholding tax in European states when the UK leaves the EU;
- insulate your balance sheet – A company with a robust balance sheet can shield itself against any harmful trading performance impacts. It also provides flexibility to seize unforeseen opportunities. Companies should have sufficient liquidity in your balance sheet, a factor which should be reviewed regularly in any instance. Increased pressure on working capital can result from any additional Customs Duties costs and timing on recover of Import VAT; and
- Communicate clearly – give your key shareholders confidence by engaging them in positive dialogue on how the business is addressing the challenges and opportunities posed by Brexit.
Businesses can re-evaluate their operating models based on how their sales and costs could evolve in each Brexit scenario and incorporate them into their existing strategic plans. Each scenario will incur differing costs from labour, tariff and non-tariff barriers, and regulations.
There has been a lot of focus on how companies should be protecting their operations, however part of the planning process should also focus on seizing opportunities. Notably, the depreciation of sterling may make local products more attractive to overseas investors and also provide the time to enter or exit markets.
Businesses should begin to plan their finance and operations for Brexit sooner rather than later. We are currently assisting local businesses via the ‘Start to Plan’ voucher from Inter Trade Ireland which provides up to £2,000 of professional advice for planning for Brexit.