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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.
Brexit – what happens next?
28 Jan 2020Provided the European Parliament approves the Withdrawal Agreement this week, the UK will leave the European Union at 11 pm on 31 January 2020. The first stage of Brexit will have been achieved.
On 1 February, the ‘implementation period’ (also known as the ‘transition period’) begins. During this period the UK is for all intents and purposes a non-voting member of the EU: the UK continues to participate in and be bound by EU rules, the single market, customs union, free movement of people and EU programmes. Any new EU laws will automatically apply in the UK.
So, what are the implications for businesses?
In terms of trade with EU countries, nothing changes on 31 January and for the duration of the implementation period. Businesses have continued access to markets and customs-free trade between the EU and UK.
However, not all EU trade deals with third countries will necessarily roll over to the UK. The Withdrawal Agreement binds the UK to continue to abide by these trade agreements – so imports from these countries into the UK will be unaffected. However, third countries are not legally bound to treat the UK as a member of the EU and will not automatically apply the terms of EU trade agreements to UK exports.
Some countries have agreed to ‘roll over’ EU trade agreements to cover the UK. Other countries have yet to confirm whether or not they will roll over these trade agreements; UK exports or services to these countries may therefore be affected from 1 February.
Businesses should now start preparing for the end of the implementation period, at which point the UK leaves the EU single market and customs union. The UK Government has said they will not extend this period; so it will end on 31 December 2020.
The situation from January 2021 onwards will be determined by the future trading relationship negotiated between the UK and the EU during the transition period. The UK/EU Political Declaration suggests that the UK is now seeking a ‘Canada style’ free trade agreement, and so the options seem to have narrowed to either this or trading on World Trade Organisation (WTO) terms.
Northern Ireland businesses also need to consider the special rules under the NI Protocol to the Withdrawal Agreement. NI will have a unique status from January 2021, described as part of the UK customs territory but still applying EU customs rules. In practice, this means that goods moving from Great Britain to NI could be subject to customs processes and payment of EU customs duties. Goods moving from NI to GB may also be subject to some customs formalities.
NI will also follow most of the rules of the EU’s single market in goods and the EU’s VAT rules. These measures should ensure that there is no need for a hard border between the Republic of Ireland and NI, but at the cost of having a customs border of sorts between NI and GB.
Whatever happens, new customs processes will need to be implemented by any NI import / export business (whether trading with GB, the EU or both), and businesses should start preparing to meet these requirements now.