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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.
Income Tax
From April 2023 the threshold at which individuals will pay additional 45% rate of tax reduced from £150,000 to £125,140. Although not a new announcement in the Statement, it is worth noting that the impact of the phased reduction of the personal allowance when income reaches £100,000 means that those earning between £100,001 and £125,139 will pay an effective rate of tax of 60% on that slice of income.
Income Tax Personal allowance frozen at £12,570 for a further 2 years to April 2028
Dividend allowance reduced from current £2,000 to £1,000 from April 2023 and £500 from April 2024
Capital Gains Tax
Capital Gains tax annual exemption reduced from £12,300 to £6,000 from April 2023 and £3,000 from April 2024. The Office of Tax Simplification’s CGT report issued November 2020 estimated that a reduction of the annual exemption to £6,000 would result in an extra 235,000 individuals having to report a capital gain, and a reduction to £2,500 would result in an extra 360,000 individuals having to report.
Inheritance Tax
Thresholds frozen for a further 2 years to April 2028. The threshold has been frozen at £325,000 since 2009. Freezing the threshold will mean many more Estates having to pay inheritance tax if asset values rise.
Pension Investments
Despite promises by Jeremy Hunt 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
Measures impacting non-domiciled taxpayers
The Chancellor introduced measures that may impact certain UK taxpayers who are non-domiciled.
Non-domiciled taxpayers in the UK have historically been able to claim the remittance basis meaning they pay tax on UK source income and gains as normal but only pay tax on non-UK source income and gains to the extent that they bring these into the UK.
The regime was tweaked slightly today and could have an impact on non-domiciled shareholders considering restructuring their business interests. It was previously possible for a non-domiciled individual to restructure their shareholding in a UK company by exchanging their shares for shares in a non-UK company with the result that income and gains arising in respect of shares in the non-UK entity could fall outside of the UK tax net. From today, where such a share exchange takes place and the individual holds more than 5% of the shares in the UK company (and the company is ‘close’), the new shares held in the non-UK company will be treated as if they are UK-situs shares. Where a shareholder is impacted by these rules, dividend income received from the non-UK company and gains on disposals of those shares will be subject to UK tax regardless of whether the income or gains are brought into the UK.
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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