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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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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.
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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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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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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 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.
In his first Autumn Budget to Parliament on Wednesday 22 November, The Chancellor, Philip Hammond announced the need to invest now to grow our economy for tomorrow. The Chancellor indicated he wanted to choose a “balanced approach” by maintaining fiscal responsibility, addressing the housing market challenges and helping families cope with the increased costs of living. Amidst the backdrop of the Brexit negotiations and the downward revision of growth forecasts by the Office of Budget Responsibility (‘OBR’), Mr Hammond revealed plans to spend nearly £25 billion on a range of measures to address the key challenges facing the UK economy.
For Northern Ireland, we welcome today’s announcement of an additional £650 million for a Northern Ireland Executive to apply towards future infrastructure projects here. Support for innovation was another key focus with our innovative businesses benefiting from the Research and Development Expenditure Credit, mainly available to large companies, increasing to 12% from 11% for qualifying expenditure incurred on or after 1 January 2018. There will also be reviews of VAT on tourism activities (which are at a reduced rate of 9% in the Republic of Ireland) and Air Passenger Duty with further updates on these expected next Autumn.
Key highlights include:
Individuals – Personal tax free allowance will increase form £11,500 to £11,850 from April 2018 alongside the increase in the higher rate tax threshold to £46,350. The National Living wage is to also increase form £7.50 to £7.83 per hour.
Capital Gains – The introduction of the 30-day payment window between a capital gain arising on a residential property and the payment date will be deferred until April 2020.
SDLT – As widely expected there was good news for first time home owners, where an SLDT exemption will apply to £300,000 of the purchase price of a home on properties costing less than £500,000. The buyer of the property must be one or more individuals who have never owned a residential property, or an interest in a home, in the UK or anywhere else in the world and intended to be occupied as the buyers’ main home. First time buyers should be careful if parents are assisting in funding the purchase of a property and are to be a named buyer, which will block the SDLT exemption if the parent has previously owned a home.
Corporation Tax – From 1 January 2018, indexation allowance will no longer be available for companies disposing of capital assets which aligns the capital gains calculation to that for individuals The freeze in this allowance means that companies will no longer receive relief for any increase in an asset’s value due to inflation. There will also be changes to the taxation of non-resident landlord companies who previously were taxed using income tax rules however form April 2020 these companies will become liable to UK corporation tax.
VAT – Whilst it was disappointing that there were no simplification of the VAT system for small businesses, the threshold for registration will remain at £85,000 until 2020.
Employee Taxes – There has been increase of 1% in respect of the calculation of the Benefit in Kind on diesel cars however some additional tax relief will apply to electric vehicles.
R&D – As part of the government’s Modern Industrial Strategy, there has been an increase in the main rate of R&D tax relief from 11% to 12 % providing a cash saving of £9.72 for every £100 of qualifying expenditure incurred.
Anti-avoidance – The Chancellor announced further measures which are expected to collect a further £4.8 billion over the course of the next four years which includes introducing a requirement to notify HMRC of the creation of certain offshore structures, which can be used to avoid tax and collection of withholding taxes on royalties which are paid to to low/non taxing jurisdictions.