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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.
Being a good corporate citizen
27 Sep 2016In today’s environment, business is no longer just about maximising shareholder return but about being a good corporate citizen.
A company’s reputation is critical to the ability to succeed. Ensuring a strong reputation has moved beyond being “nice” to becoming a fundamental part of business. Today’s businesses face intense and unrelenting scrutiny. Information that was previously kept private is now demanded by a world of stakeholders. The scrutiny of tax risk and internal controls has increased vastly and continues to do so. It appears that everyone has now something to say about tax and whether a company pays its “fair” amount.
Tax regulation
Tax regulation forces companies to deal with multiple tax challenges. Larger businesses face the Senior Accounting Officer regime (which no longer has HMRC’s “light touch” approach!). They must also comply with the latest requirement to document and publish online a robust tax strategy. These challenges demonstrate the increased emphasis being placed on a company’s tax function.
Even if your business is not subject to these recent challenges, the demands on the tax function have never been more onerous and the risk that tax issues present to reputation and profit has never been greater! Undertaking a review of tax processes and controls is vital. This will not only highlight to HMRC the importance you place on your tax function but having well-documented tax processes will contribute to a reduction in the overall tax cost of your business whilst at the same time minimising tax risk.
For most companies a complete “tax risk assessment” is predominantly seen as an administrative burden and perhaps brings up feelings of dismay over the size of the exercise ahead (without the manpower to do it!). It is understandable why organisations may need a lot of convincing that this can actually be used to the organisation’s advantage.
There is no denying that undertaking a risk assessment will take time and effort. However, once complete, the business should have compiled a unique document library should HMRC have any tax risk queries.
Overal benefits
By walking through the organisation’s tax processes from start to finish, new procedures and policies may be written. When flaws are highlighted, new controls can be put in place and documented with new improved tax processes evolving. Maintenance should then flow naturally with reviews in place to ensure that procedures are being followed and controls are being implemented. Once documentation is finalised, increased tax transparency should create genuine benefits such as minimising the risk of penalties, incorrect tax payments and HMRC enquires.
In my previous role as in-house tax for a large organisation, I experienced most of the above first hand. Although I started the risk review process somewhat reluctantly, as I watched the benefits of it unfold, I began to question if I could ever have fulfilled my role properly without it. Having worked through a risk assessment and the evaluation of controls around processes, I came out the other side with a totally different attitude. Tax risk management should be on the forefront of a company’s agenda.