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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.
The recent UK budget laid out the significant costs related to the various coronavirus supports and began plotting the path to raising more revenue. With current government borrowing running at post world war highs of £355bn, a central theme in the Chancellor’s announcement was ‘repairing the public finances’. While there are tomes of writing that could be devoted to the need, or otherwise, to balance the books, it is the Chancellor’s chosen path.
Among various revenue raising announcements, the increase in corporation tax to 25% in 2023 (the current 19% rate will remain for profits below £50,000 and taper to the 25% rate) grabbed the most headlines. In raising the top rate of corporation tax to 25%, it was noted in local quarters that this will be exactly twice the rate in the south. This has invariably reignited the local corporation tax debate and has amplified calls for the establishment of the local fiscal council. The local Finance Minister has also announced an intention to engage a fiscal commission to consider a broader remit of assessing greater devolution of tax setting powers.
There are a host of options that can be considered. Obviously the three big taxes in terms of scale of revenue collected are income tax, national insurance contributions and VAT. I know the tourism and hospitality sector has long wished to see VAT reduced to the same rate as in the south but they have met with strong resistance. In terms of business tax, the ability to reduce corporation tax has been on the statute books since 2015 and has never been acted upon – the impact on the block grant proving to be a hurdle too far.
A range of other taxes should be on the table. The plastic bag levy was a great example of how tax can drive behaviour change. Thinking of our environmental commitments and behaviours, could we see taxes used locally to move us towards net carbon zero? Would more fuel duty, carbon taxes or tax incentives for building to net carbon zero standards shift us on? It’s hard to know, but could be worth having the ability to find out.
While there are options for greater tax devolution here, the calls for tax variations and breaking parity with the UK tend towards wanting cuts. This is not a criticism – there are many compelling arguments put forward for increasing our economic competitiveness through the tax system. However, with seemingly ever-growing demands on public services and significant infrastructure deficits here, greater tax devolution comes with obvious questions around affordability. Scrutiny of where and how money is spent would, rightly, need to increase. Spending what we already have, and spending it well, should always be the primary consideration before any tax varying powers are added to the mix but that shouldn’t stop us seeking to secure the fullest suite of policy levers possible.
