Our Brexit Advisory team offer insight and guidance surrounding impacts and opportunities that Brexit has created for organisations.
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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.
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.
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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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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.
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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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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.
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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.
Like many countries, the Irish government has incurred significant costs as a result of Covid supports paid out since the beginning of the pandemic. This, paired with the pressures with a rising cost of living, a continuing housing crisis, and a need for action on climate change, forced the Finance Minister to focus the budget on these areas to restore public services, the living standard and repair the public finances.
One of the main changes in this budget for businesses, will be the rise in Corporation Tax rates from 12.5% to 15% for companies with revenues of greater than €750m. While the rise is an additional tax burden for companies, the measure is a direct response to calls from the Organisation for Economic Co-operation and Development for international tax reform but, despite this increase, Ireland remains one of the lowest tax regions in the world.
Here, this raises the question of the stalled changes to the NI Corporation Tax rate and the tax gap that will arise for local businesses competitiveness when the UK rate increases to 25% from April 2023. Other significant announcements included the five-year extension of Corporation Tax relief for some start-up companies and the three-year extension of the Employment Investment Incentive Scheme.
To combat the rising costs of living, the minister announced the increases to the minimum wage to €10.50 per hour. Other changes include the standard rate band for taxation of almost €1,500, the ceiling for the second USC rate band from €20,687 to €21,295 and the personal tax credit, employee tax credit and earned income credit of €50. These changes will go some way to increase disposable income for individuals and households, however, there are criticisms that the measures are not enough to combat rising costs. The Minister has responded that the budget will bring down the cost of living “in the round” but “not everything could be done this year”.
The Employment Wage Subsidy Scheme (EWSS) for businesses affected by the Covid-19 crisis will be extended to the end of April, however the relief will be tapered from December onwards.
To help tackle the lack of housing the Minister has extended the government help-to-buy scheme, introduced a zoned land tax to encourage the building of homes and extended the pre-letting relief for landlords for a further three years, encouraging landlords to return vacant properties to market.
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It is no surprise that climate change was also high on the agenda, as pressure mounts on global leaders to react. The Minister has announced an increase in a carbon tax of €7.50 per tonne on CO2 fossil fuels, an increase to vehicle registration tax and an extension to the relief for battery electric vehicles, all aimed at encouraging drivers to purchase lower CO2 emissions cars.
Finally, to help with the hospitality sector, the minister has extended the reduced 9% VAT rate until late next Summer.