-
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.
-
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.
-
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.
-
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.
-
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
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
Subscribe to our mailing list
Update your subscriptions for Grant Thornton publications and events.
The biggest pinch may be the freeze on Income Tax and National Insurance thresholds which, when looked at in conjunction with the 9.7% National Minimum Wage increase from April 2023, means employers and employees will ultimately pay more tax despite no actual increase to the tax rates.
Consequently, this also impacts on any amounts payable for auto-enrolment contributions and apprenticeship levies, although, employers will continue to benefit from a £5,000 Employment Allowance from April 2023.
For individuals, from April 2023 the 45% additional income tax threshold will reduce from £150,000 to £125,140 capturing more individuals who would have previously paid 40% on that slice of income. This also affects employers with international workers as hypothetical tax contributions will increase for any tax equalised UK-outbound assignees and UK-inbound assignees will face higher taxes, unless they too are tax equalised.
Despite rumours of Capital Gains Tax rates increasing, the Chancellor instead declared a phased reduction of the tax-exempt amount currently at £12,300 to £6,000 from April 2023 and £3,000 from April 2024.
This approach has also been applied to the tax-free dividend allowance from the current £2,000 to £1,000 from April 2023 and £500 from April 2024.
The “freezes” continue, with the tax-free threshold for Inheritance tax (IHT) remaining at £325,000 until 2028 (which has not changed since 2009) resulting in an increased number of estates having IHT applied if asset values rise.
Despite previous promises by the Chancellor, there was no reference to addressing the problems of Pension Annual Allowance and Lifetime Allowance and the adverse effect on retaining doctors in the NHS, especially GPs.
It is not all bad news, however. The Chancellor confirmed that increases in the benefit-in-kind rates for electric and ultra-low emission cars will be limited to 1% a year from 2025-26 up to a maximum of 5% for electric cars and 21% for ultra-low emission cars. Furthermore, no restrictions on tax efficiencies around pension contributions were revealed meaning real savings for both employer and employee can still be made using salary sacrifice pension plans.
Additionally, awards of share options under HMRC’s approved, ‘Company Share Option Plans’, which are currently limited to £30,000, will from April 2023 increase to £60,000, and restrictions on the class of shares are also being lifted which should make tax-efficient plans available to a wider catchment of businesses.
Overall, the Chancellor’s plan for the statement revolved around the freeze of or the reduction in tax-free thresholds, which may appear like a softer approach than increases in tax rates but don’t be mistaken, no one escaped and everyone will be paying their part.
-
Alan Gourley Alan is a Partner and UK tax specialist. He has a focus on advising High Net Worth Individuals (“HNWIs”) trusts and family businesses in respect of income tax, capital gains tax, inheritance tax and all aspects of succession planning.View Profile -
Peter Legge Peter specialises in advising owner managed businesses on tax matters ranging across the various stages of their growth model – from business structuring, to protecting and expanding business activities, to tax efficient realisation of value from the business.View Profile