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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 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.
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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.
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Understanding your VAT position
VAT is an area of ever increasing risk and ensuring your business’ VAT processes and procedures are compliant can be complex. HMRC enquiries are on the rise and the risk of getting things wrong can be costly. A review of your business’ VAT position can guide you in the right direction. Such reviews can not only manage risk but may also identify opportunities and efficiencies.
One such case in point arose within a recent VAT compliance review on analysing supply chains and the VAT treatment of supplies received, we identified approximately £90,000 of additional recoverable VAT. This advice also allowed the client to update its processes and procedures in respect of the recovery of VAT on future costs, leading to an approximate quarterly VAT saving of £15,000.
Our dedicated VAT team offer three levels of compliance review. Further information in respect of the services offered for each option is set out over leaf.
Our compliance reviews
- Option 1: A high-level desk top review.
- Option 2: Detailed review (excluding consideration of Making Tax Digital (“MTD”)).
- Option 3: Detailed review (including consideration MTD).
Option 1 – High-level desk top review
Ideal for businesses with low level VAT complexity that may not have reviewed their VAT processes and procedures in a number of years and would like to identify any key areas of risk or opportunity.
Services included:
- High-level review of the business’ UK VAT return processes and procedures, including consideration of compliance with MTD.
- Provision of a high-level VAT questionnaire and review of responses.
- A 1 – 2 hour meeting hosted by Grant Thornton’s Indirect Tax team.
- Follow up recommendations of any issues which may require further analysis.
Option 2 – Detailed review (excluding MTD)
A more detailed review is recommended for businesses with more complex VAT affairs(e.g. businesses with a high volume of supplies with different VAT rates, partially exempt businesses etc) or where a sale is envisaged in the next 3 – 5 years.
Services included:
- Provision of a detailed, tailored questionnaire on the VAT treatment of sales and purchases.
- Review of any documented VAT compliance procedures and processes.
- A review of one VAT return and back up schedules.
- An initial meeting to discuss the responses to the questionnaire and the VAT compliance procedures.
Option 3 – Detailed review (including MTD)
Option 3 includes all of the services offered in Option 2 and additionally includes a review of the business’ “digital journey” requirements for MTD. This Option may be preferable where the business has implemented minimal changes in order to meet its MTD requirements.
Services included:
Option 2 services and additional consideration of MTD requirements including:
- Any UK VAT issues which may result in either an underpayment or overpayment of VAT;
- Implications of the issues identified;
- The actions we recommend are undertaken in order to address these issues;
- Should we identify any potential non-UK VAT/ sales tax issues, we will incorporate an appropriate recommendation for each potential issue; and
- Consideration of the current VAT compliance processes and commentary on what steps may be taken to ensure these are as robust and efficient as possible.