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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.
Making sense of political chaos
Earlier this evening, the House of Commons rejected Theresa May’s Brexit deal by a crushing margin of 230 MPs.
With just ten weeks to go before Brexit day (29 March 2019), we still have no agreement on what Brexit will be. We are living through a period of significant political volatility and uncertainty. We stand on the threshold of a huge change to the UK’s economy and society but we still do not know exactly what form that could take, how fast it could happen and how big a change it may be.
The possible outcomes are actually widening, not narrowing, the nearer we get to Brexit day.
What happens next?
On Wednesday (16 January), Parliament will debate the motion of no confidence as brought to Westminster following the vote by the Labour leader, Jeremy Corbyn.
In addition, the Government is now required to come back to Parliament within three ‘sitting days’ (i.e. by Monday 21 January) with a proposal on what to do next on Brexit. MPs will vote on this and may seek to amend the proposal to instruct the government on what it should do.
The scale of the defeat in parliament means we may see some radical responses and rapid political manoeuvrings beginning with the vote of no confidence and a group of MPs may now declare in favour of a ‘Peoples Vote’. Add another faction of MPs (across party) who may push for a ‘Norway Plus’ Brexit (singe market and customs union membership) and there is likely to be support to emerge too for delaying Brexit by extending Article 50.
We may see MPs and even Cabinet Ministers pressing for ‘indicative votes’ in Parliament: a series of votes to find out what (if anything) could be supported by a majority of MPs. Cabinet unity will be tested: with some minsters possibly calling for No Deal or a ‘People’s Vote’. Theresa May’s own ministers may now urge her to adopt a radical change of plan or resign. The next few days will be volatile and we can also expect Parliament (backbench MPs) to increasingly seek to take leadership of the process.
The options ahead are set out in this flow diagram.
As you can see, there are many different potential outcomes. The default remains a ‘No Deal’ Brexit: unless MPs can agree on something (and the EU agrees too), then we will leave the EU on 29 March with No Deal. We are currently headed straight for No Deal; a majority of MPs have to change course to divert us from this destination.
What does this mean for business and other organisations?
- Don’t wait for the politicians to reach an agreement. By the time this political deadlock breaks, it will be too late to make contingency plans for 29 March. So…
- If you can, plan for all eventualities. If you haven’t already, do some scenario planning, assessing how the different options impact on your organisation, your markets and suppliers. We can help and there are more things you can do whatever stage you are at in your Brexit planning http://www.grantthorntonni.com/service/advisory/brexit-advisory/
- Identify opportunities that uncertainty and disruption in the market create: where are your competitive advantages; how can your goods or services help others navigate this uncertain time; are there opportunities to increase exports in the rest of the world or acquire undervalued assets?
- If nothing else, plan for No Deal: and work out when you need to implement plans to ensure ongoing business continuity.
- Get match fit: focus on the business basics: cashflow; retaining and attracting talent; sweating your assets; meeting customer needs; and removing unnecessary costs.
We will keep you updated on developments as they happen over the coming days and weeks. We will be sharing practical examples of what other organisations are doing to prepare, including ‘no regrets’ decisions you can take now and contingency plans you should have in place.
