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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.
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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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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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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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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.
A different start to the New Year
05 Jan 2021Normally January is a time for reflection on the year just passed and optimism for the year ahead. It is hard to describe the events of 2020 without using the clichés of “a year like no other” or “a once in a lifetime event” but they have never been truer. In years to come, students will be studying the social, economic and political implications of 2020, but alas, my school days are well behind me!
As a professional working in the restructuring environment, it has been a very strange time. Some might look at the headlines from the retail sector and the collapse of the Arcadia Group, Debenhams and many other high street names and think that the insolvency experts have never been busier, but this has not been the case.
The economic fall-out from the pandemic is estimated to have reduced the UK economy by circa 10-15% in 2020, with an associated rise in unemployment. It is also estimated that it will be at least 2022 before the economy is back to pre-COVID levels.
However, even with the current picture of the High Street and the huge impact of the lockdowns on the hospitality sector, it could be argued that the situation in early 2021 could be much, much worse. The Job Retention Scheme and support for the self-employed have slowed the rise in unemployment. The grants, loans and various tax deferral schemes provided by the Government have also provided some much needed support for businesses. The question that everyone is asking is…what happens when the Government supports end and businesses have to start paying back their loans?
Some would argue that due to lockdown restrictions and the move to home working, consumers will have surplus cash to spend, as was seen during the “Eat Out to Help Out” scheme in August. Therefore, it may be the case, that once the vaccination programme starts and allows for a phased return to normality, that consumer demand will bounce back and the economy will recover. However, it may also be the case that the long term effects of the pandemic are felt for a number of years and so the demand for insolvency experts will increase.
2020 also saw some of the biggest changes in insolvency legislation since the early 2000s, with two new restructuring options now available. Companies can now apply for a moratorium to allow for a restructure of the business or a more formal Court approved Restructuring Plan. December 2020 also saw the return of Crown Preference for certain HM Revenue & Customs debts.
2020 was indeed “a year like no other” ….and it would take a brave person to predict 2021.
