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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.
On the 8 March, Chancellor Philip Hammond delivered his last spring budget, in advance of the transition to a single fiscal event each year – an Autumn Budget. It offered a welcome boost for Northern Ireland with the announcement of £120 million additional funding. Of this amount £90 million was allocated for departmental day to day spending and £30m for capital projects.
On the whole the budget was a low-key affair with the Chancellor deferring many significant tax changes or incentives until the economic impact of Brexit is better understood. The focus was on economic stability and investing for the future to create a vibrant economy, while the UK begins the formal process of exiting the European Union.
The Chancellor’s aim is to create a tax system that is fair and sustainable to support essential public services such as health, education and social care system, whilst also being competitive to support UK economic growth. As part of the government’s economic policy their objective is to support ordinary working families. Next month will see the rise in the national living wage to £7.50.
One of the main measures announced to generate additional government revenue was the modest increase to National Insurance contributions for the self-employed. The Chancellor was concerned about the growing gap between National Insurance contributions paid by those in employment compared to those who are self-employed as he stated both use public services in the same way but are not paying for them in the same way. The Chancellor outlined that those who are self-employed pay significantly less in National Insurance Contributions. The increase to NIC for the self-employed is expected to generate £2bn in extra UK revenue. This comes despite the Conservative manifesto pledge not to raise National Insurance. In Northern Ireland there are around 130,000 people who are self-employed and will be impacted by this change, representing about 15% of the workforce.
Positively, the Chancellor noted that employment levels in Northern Ireland are currently at a record high, with average wages having grown faster than in any other part of the UK since 2010.
The key highlights from the budget include:
- an increase in Class 4 National Insurance contributions for self-employed from 9% to 10% in April 2018 and to 11% in April 2019;
- dividend allowance reduced from £5,000 to £2,000 from April 2018;
- the introduction of quarterly digital tax reporting was delayed to April 2019 for unincorporated business and landlords with turnover below the VAT threshold;
- reduction to the administrative burden for Research & Development claims; and
- confirmation the corporation tax rate will be reduced to 17% by 2020.
It is not clear if the measures announced in the spring budget will fully address the imbalances in the Chancellor’s speech or whether further measures can be expected in the future.