Autumn Budget 2024

Skip to content
Skip to navigation

Services

Audit

Advisory

Our progressive thinkers offer services to help create, protect and transform value today, so you have opportunity to thrive tomorrow.

See Overview

Business Risk Services
Our Business Risk Services team deliver practical and pragmatic solutions that support clients in growing and protecting the inherent value of their businesses.
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.
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.
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
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.
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.
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.

Audit

Our audit services can strengthen your business and stakeholders' confidence. You'll receive professionally verified results and insights that help you grow.

See Overview

Tax

Our tax services help you gain trust and stay ahead, enabling you to manage your tax transparently and ethically.

See Overview

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.
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.
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.
Global Mobility Services
Grant Thornton Ireland 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.
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.
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.
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.

Connect

About us

Grant Thornton Ireland is rapidly approaching 3,000 people, in 9 offices across Ireland, Isle of Man, Gibraltar and Bermuda. With a presence in over 149...

See Overview

Meet our people

See Overview

Subscriptions

See Overview

Events

View our past webinars and register for upcoming events.

See Overview

It was referred to as a "Budget for boffins" and one that reflects how the experts have taken back control. Indeed, this Budget is full of detail and was subject to a full 10-week assessment by the independent Office for Budget Responsibility (OBR) to assess the implications of all the tax and spend measures.

In the time before the Budget, we were well briefed about a £22 billion fiscal “black hole” and the need for difficult choices to be made to put public finances on a more stable footing. This rhetoric has served to lower optimism among businesses and consumers, with confidence indicators falling to their lowest levels this year.
The Budget had a difficult dual purpose: to put public finances on a more stable footing and create the conditions for investment in infrastructure and public services. The result was a big and consequential set of announcements that will deliver £40 billion in tax increases and changes to the UK’s debt rules to facilitate more borrowing for investment within these adapted fiscal rules. Not only has £40 billion in additional taxation been announced, but government borrowing is expected to reach £127 billion this year, considerably higher than previously expected.
Economic growth is crucial to the Government’s ambitions, so there will be relief that the measures taken in Labour’s first budget in 14 years have been assessed by the OBR to boost growth in GDP. Real GDP growth is forecast to pick up from close to zero last year to 1.1% this year, 2% in 2025, and 1.8% in 2026, before falling back to around 1.5% thereafter.
Labour’s big hope that the renewed rigour applied to this Budget, and the measures taken to ‘fix the foundations and deliver on a promise of change’, looks like it could produce a different economic outcome compared to what we have experienced of late.

With the Budget now delivered, the main question is, ‘what does it mean for me?’ Grant Thornton’s analysis unpicks all the detail to answer that question.

Autumn Budget 2024 Impact on Individuals

In her "budget to restore economic stability," Rachel Reeves raised Capital Gains Tax rates and restricted key Inheritance Tax reliefs.

Peter Legge

| 30 Oct 2024

Autumn Budget 2024 Impact on Businesses

Read our full commentary and analysis to see how the Budget will affect your business.

Peter Legge

| 30 Oct 2024

Article The Autumn Statement – the first Labour Budget since 2010

Explore the key tax and spending changes expected in the first Labour Budget since 2010, addressing the £22bn shortfall and potential reforms in pensions and CGT.