-
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.
-
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.
Are you ready for a change in tides?
24 Mar 2020“It's only when the tide goes out that you learn who has been swimming naked”. As much as I would like to take credit for this quote, it was Warren Buffett who uttered these words.
Buffet’s words of caution are a metaphor that should be remembered by business leaders when considering their own business’ financial position.
If a business’ strategic plan is based on expecting a wave to come in, but instead the tide goes out, the future of the business could be at risk. To avoid this scenario, management often need to take a step back and look at their business from a much more strategic level, including anticipating various changes to the landscape.
It’s easy to look at your business when winning new work and think that all is performing well. However, management need to take more holistic view, ask some fundamental questions and consider the following: is this work actually profitable; how will this impact the business’ cash flow cycle and how is it going to be funded; is this in line with the business’ overall strategic goals; and how will it impact the longer term future of the business.
Take a look at some of the recent high profile business failures. From the outside, things may have appeared to be going well, with high profile work wins, and often the appearance of a successful growing business. However, when the tide went out, the problems began to surface. When considering Warren Buffet’s phrase, not only were some of these businesses swimming naked, they were doing so on a busy beach.
This is an important message for all industry sectors, but is especially relevant for the construction sector. Where contract values are often high, profit margins are low, and very punitive provisions for failing to meet contractual obligations are common. Even worse, these provisions are often not fully in the control of the business (e.g. a sub-contractor failing to deliver on their own obligations). What at first seemed like an exciting opportunity, can quickly turn into an onerous contract and could prove to be fatal for even the largest of construction companies.
Similarly, from a personal finance point of view, the sentiments are the same. Look at the bigger picture. Consider the peaks and troughs of the property market when purchasing property. Consider how sustainable repayments on finance agreements are, should circumstances change. I have previously been asked “How can they go bankrupt? They own 10 houses and a Range Rover!”. The answer to that question is, of course, because they had 10 houses and a Range Rover!
Business leaders should take steps to prepare for changing conditions, so they don’t get caught when the tide goes out.’