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 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.
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.
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.
In the last Budget before Brexit and the first on a Monday since 1962, The Chancellor Philip Hammond presented to Parliament on the afternoon of Monday 29 October a Budget which has signalled austerity coming to an end.
Whilst at a pivotal point in the Brexit negotiations, he has a pledged an additional £0.5bn (on top of the £3.7bn previously announced) to assist Britain to prepare for Brexit. He further indicated that an Emergency Budget in the Spring may be required subject to the outcome of the Brexit talks.
For Northern Ireland, we welcome today’s approval of the Belfast Region City Deal of £350 million that is to be matched by the six local councils and with additional contributions from the private sector. There were also pledges of £2 million to help Belfast’s city centre in the aftermath of the Bank Buildings fire and bringing forward the £300 million for shared and integrated education projects.
Key highlights include:
Individuals – Personal tax free allowance will rise a year early from £11,850 to £12,500 from April 2019, together with an increase in the higher rate tax threshold to £50,000. The National Living wage is to also increase form £7.83 to £8.21 per hour.
Capital Investment allowances - The increase of the annual investment allowance from £200,000 to £1 million for the next two tax years will assist with the cost of capital investment. For Commercial buildings (beginning today), businesses will be able to claim the new structures and buildings allowance (SBA) in relation to costs of construction, land alterations and improvements. The current writing down allowances for special rate pool assets (such as integral features and high emission cars) will be decreased from 8% to 6% per annum.
Capital Gains – The calls for Entrepreneurs’ Relief to be abolished was dismissed however the qualifying period were increased from one year to two years.
Pension Relief – Lifetime allowance has increased by CPI to £1,055,000 whilst the annual allowance remains static at £40,000 per annum.
Corporation Tax - The Chancellor announced innovate measures to tax the ‘FAANGs’, being the multinational internet companies such as the Facebook, Apple, Amazon, Netflix and Google’s of this world. A 2% tax on the revenues based on the value derived by users in the UK. The amount of R&D tax credit that a qualifying loss-making company can receive will be restricted to three times the company’s total PAYE and NIC liabilities. Corporate capital tax losses will also be brought into line with the reformed corporate income loss regime from April 2020.
VAT – The threshold for registration will remain frozen at £85,000 until 2020. A new plastic tax will be introduced on packaging which has not been made from at least 30% recycled plastics.
Employment Status – The rules around the status of individuals paid using personal service companies have been contested in some high profile tax cases and the Chancellor has announced the introduction of provisions which align the IR35 rules for the private sector to the public sector from April 2020.