-
Business risk
Our Business Risk Services team deliver practical and pragmatic solutions that support clients in growing and protecting the inherent value of their businesses.
-
Consulting
Tailored consulting solutions that deliver measurable results through digital, regulatory and strategic transformation.
-
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.
-
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
-
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.

-
Report FRS 102: Major changes to revenue recognitionExplore key changes to FRS 102 Section 23, including the new five-step revenue model and its impact on financial reporting in Ireland and the UK.
-
Article Changes to filing options and requirements at Companies HouseFrom April 2027, Companies House will require all UK entities to file digital accounts. Learn what’s changing and how to prepare for the new rules.
-
Article FRS 102 periodic review: Small companiesExplore key changes to small company disclosures under FRS 102 Section 1A, including UK GAAP updates on leases, tax, going concern and related parties.
-
Article FRS 102 periodic review: Other changesOn 27 March 2024, the Financial Reporting Council issued amendments to FRS 100 – 105 (known as GAAP, or Generally Accepted Accounting Practice), a suite of accounting standards applicable in the UK and Ireland. These are used by an estimated 3.4 million businesses in preparing their financial statements.
-
Corporate tax
End-to-end corporate tax support, from accurate compliance to specialist advisory, helping you meet obligations and create efficiencies.
-
Employer solutions & payroll
Comprehensive support with employment tax, compliance and payroll outsourcing, simplifying employer responsibilities and protecting your workforce strategy.
-
Indirect tax compliance & advisory
VAT, customs and trade solutions that ensure compliance, reduce costs and uncover cashflow opportunities.
-
International tax
Practical advice and global strategies to manage transfer pricing, multi-jurisdictional compliance and cross-border tax structuring.
-
Private client compliance and advisory
Tailored advice and compliance services to protect wealth, reduce liabilities and plan for succession with confidence.


Update your subscriptions for Grant Thornton publications and events.
Understanding your VAT position
VAT is an area of ever increasing risk and ensuring your business’ VAT processes and procedures are compliant can be complex. HMRC enquiries are on the rise and the risk of getting things wrong can be costly. A review of your business’ VAT position can guide you in the right direction. Such reviews can not only manage risk but may also identify opportunities and efficiencies.
One such case in point arose within a recent VAT compliance review on analysing supply chains and the VAT treatment of supplies received, we identified approximately £90,000 of additional recoverable VAT. This advice also allowed the client to update its processes and procedures in respect of the recovery of VAT on future costs, leading to an approximate quarterly VAT saving of £15,000.
Our dedicated VAT team offer three levels of compliance review. Further information in respect of the services offered for each option is set out over leaf.
Our compliance reviews
- Option 1: A high-level desk top review.
- Option 2: Detailed review (excluding consideration of Making Tax Digital (“MTD”)).
- Option 3: Detailed review (including consideration MTD).
Option 1 – High-level desk top review
Ideal for businesses with low level VAT complexity that may not have reviewed their VAT processes and procedures in a number of years and would like to identify any key areas of risk or opportunity. Services include:
- High-level review of the business’ UK VAT return processes and procedures, including consideration of compliance with MTD.
- Provision of a high-level VAT questionnaire and review of responses.
- A 1 – 2 hour meeting hosted by Grant Thornton’s Indirect Tax team.
- Follow up recommendations of any issues which may require further analysis.
Option 2 – Detailed review (excluding MTD)
A more detailed review is recommended for businesses with more complex VAT affairs(e.g. businesses with a high volume of supplies with different VAT rates, partially exempt businesses etc) or where a sale is envisaged in the next 3 – 5 years. Services include:
- Provision of a detailed, tailored questionnaire on the VAT treatment of sales and purchases.
- Review of any documented VAT compliance procedures and processes.
- A review of one VAT return and back up schedules.
- An initial meeting to discuss the responses to the questionnaire and the VAT compliance procedures.
Option 3 – Detailed review (including MTD)
Option 3 includes all of the services offered in Option 2 and additionally includes a review of the business’ “digital journey” requirements for MTD. This Option may be preferable where the business has implemented minimal changes in order to meet its MTD requirements. Services include:
Option 2 services and additional consideration of MTD requirements including:
- Any UK VAT issues which may result in either an underpayment or overpayment of VAT;
- Implications of the issues identified;
- The actions we recommend are undertaken in order to address these issues;
- Should we identify any potential non-UK VAT/ sales tax issues, we will incorporate an appropriate recommendation for each potential issue; and
- Consideration of the current VAT compliance processes and commentary on what steps may be taken to ensure these are as robust and efficient as possible.