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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.
A recent disclosure from HMRC has confirmed that HMRC’s compliance activity in 2015/16 boosted the Treasury’s coffers by an extra £705 million of PAYE and NIC.
Some SME’s have suspected for years that they have been at the sharp-end of HMRC’s attention when compared to big business, and the details within this report may go some way to supporting that view. Of the £705m total, £322m (45%) of the yield was collected from SME’s with the remaining £383m from large employers.
While HMRC can (and should) be pleased with the results of their actions, prudent Employers should expect HMRC’s focus to remain in this area.
Much of the Revenue’s success had been achieved by challenging the employment status of workers. Where HMRC determine that workers have been incorrectly treated as contractors; or as having self-employed status; or off-payroll worker status, any shortfall in tax will usually fall in the first instance on the employer.
The growth of the Gig Economy (the part of the labour market with a prevalence of short-term contracts or freelance work, as opposed to permanent jobs) has become newsworthy following some high profile legal cases over the individual’s rights and legal protection for Gig Economy workers. It is therefore no surprise that the tax treatment of payments to those individuals is also in the spotlight.
The chair of the parliamentary Work and Pensions Committee has recently stated that the government must “close the loopholes that are currently being exploited by these companies as part of a wide ranging reform to the regulation of corporate behaviour” which they go on to say is “potentially creating an extra burden on the welfare state”. The committee also comments that an assumption of worker status by default would protect individuals and the public purse.
Off-payroll workers will likely fall into the categories of agency workers; personal service companies; or individuals, and HMRC are likely to challenge any blanket status treatment of off-payroll workers on principle.
In most cases individuals will have paid income tax on their earnings, and it is therefore the recovery of national insurance which attracts much of HMRC’s attention.
How employers address both the PAYE and NIC risks and the legal entitlements of employees could be crucial determining the outcome of a compliance review from HMRC. Critical to any defence of an off-payroll worker/contractor status will be evidence of how the business or organisation arrived at the decision, when it was reviewed and the individual factors involved.
HMRC have provided on-line status indicators which provide some comfort based on individual circumstance, these include: right to refuse work or mutuality of obligation; control, who directs the work; type of engagement and duration; rate of pay; right of substitution/exclusivity; how work is paid; financial risk and opportunity to profit; provision of equipment/information/ tools/facilities and insurance/indemnity.
The onus is very much on the employer to get the employment status right. Whilst there may be a preference to engage contractors in lieu of employed workers, the potential of a prolonged dispute with HMRC makes that option less attractive.