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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 impact of COVID-19 on the pension industry
18 Aug 2020The impact of COVID-19 has permeated every aspect of the UK national conscience since it first reached our shores earlier this year, with every aspect of our daily lives impacted by its insidious and far-reaching grasp. As the first half of 2020 has illustrated, the pensions industry has proven to be in no way ‘immune’. Just as the phrases ‘lockdown’ and ‘social distancing’ entered our lexicon in late March, the continuous positive growth experienced by UK pension funds throughout 2019 was wiped out, with the average fund diminishing in value by 11.6 per cent.
Indeed, the only glimmer of ‘good’ news for pensions in recent months has made for bleak reading: a recently released COVID-19 Impact Analytics report, released by pension administrator XPS, forecasts that the long-term effect of COVID-19 on life expectancy could cause a reduction in liabilities by as much as 5% across the Defined Benefit universe. Pension experts say the virus could wipe as much as one year off current typical life expectancy in the UK – a key metric in the calculation of scheme liabilities – resulting in a potential £90 billion future saving.
From an employer’s perspective, the story makes no better reading; pension contributions are yet another cash outflow demanding funding. Whilst the COVID-19 economic stimulus package did permit employers to reduce contributions to the statutory minimum where more generous packages were previously available, as well as allowing struggling employers a relaxation in the payment timetable for contributions, there remains a legal obligation on all UK employers to uphold their pension obligations to their employees.
The role of the Pension Regulator comes into sharp focus as a watchdog to guard against potentially dubious employer practices in this area. There is a widely-held concern that businesses may attempt to encourage or induce employees presently enrolled in company pension schemes to opt out, thus alleviating the obligation on employers to make contributions on behalf of their employees of at least three per cent of their pensionable pay. A not-inconsiderable saving at a time where cash is most definitely king. Indeed, the ombudsman has noted a ‘small increase’ in the decision by some employers to take pension deductions from their staff payroll and yet fail to pay the contributions over to the scheme.
With recent suggestion that UK Chancellor, Rishi Sunak, is preparing to announce a break the Conservative party’s ‘triple lock’ state pension pledge, amid fears that the policy could soon become unaffordable because of the fallout from the coronavirus crisis, it would appear that the pensions industry will be forced to endure the ongoing uncertainty that has engulfed 2020 for a little longer.
