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 e-discovery services in the country and have been for years. Our incident response team managed the electronic discovery in the largest e-discovery 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.
Audit and Assurance
Grant Thornton Northern Ireland’s Audit and assurance team are experienced advisors providing an audit that is efficient and provides assurance through our partner driven approach
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.
There has been considerable focus in the media on the delays, logistical issues, and extra red tape that businesses face when moving goods from Great Britain into Northern Ireland. However, less attention has been paid to the tariffs that are potentially payable on these goods. Goods moving from GB to NI will generally be subject to EU tariffs if they are considered ‘at risk’ of being moved into the EU, although there are some cases where tariffs will not apply.
First, a trader can apply to become authorised by HMRC under the ‘UK Trader Scheme’, and declare that the goods it imports are not ‘at risk’, if it can evidence the goods are entering NI for the purposes of sale to or use by final consumers in the UK. However, subject to limited exceptions, this declaration cannot be made if the goods are to be processed in NI.
Secondly, no tariffs will be payable if the goods are of UK origin and eligible to claim a zero preferential tariff under the free trade agreement between the UK and EU. The difficulty here is that rules of origin are complex and can depend on where the last significant processing occurred or where the components of a product originated from. Perhaps surprisingly, EU origin goods are subject to tariffs when entering NI from GB unless sufficient processing of the goods has occurred in GB.
Goods from third countries that have paid the UK tariff on import into GB may face a second charge to duty on import into NI.
Thirdly, importers can claim a waiver of the duty provided this is within their state aid allowance under EU law. Most businesses can claim a waiver of up to €200,000 over 3 tax years, assessed on a rolling basis.
In our experience, the worst affected businesses are those engaged in manufacturing and distribution in NI, which exceed the waiver limits.
SUBSCRIBE TO OUR MAILING LIST
Update your subscriptions for Grant Thornton publications and events.
Most businesses are using the government’s free Trader Support Service (TSS) to submit their customs declarations and pay any duties. Problems and delays with the TSS’s systems mean that many businesses are only now submitting their declarations for imports from early 2021 and realising the potential tariff costs. Businesses also need to be clear which party (the supplier or customer) is acting as the importer into NI and responsible for dealing with customs issues.
Fortunately, there are customs special procedures and reliefs that can assist affected businesses in some (but not all) scenarios. For example, inward processing relief can remove tariffs where goods are being imported for processing and the finished product is re-exported to GB or outside the EU. Other relevant procedures include outward processing, customs warehousing, transit and returned goods relief. However, these procedures can introduce significant complexity and businesses are likely to need specialist advice to implement them.