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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.
COVID-19: How can Furlough affect your R&D claim?
12 Jan 2021In 2020, businesses across the UK were heavily disrupted by COVID-19, with activity levels in some industries crashing almost to a halt in March. As part of its response to the pandemic, the UK government introduced the Coronavirus Job Retention Scheme (CJRS), allowing businesses in the UK to allocate employees as furloughed workers.
As staff costs often form the majority of the qualifying costs in an R&D claim, the implications of the furlough scheme could be significant for your business’ claim.
Whilst placed under the furlough scheme, your employees are not permitted to work. It is because of this that HMRC has stated that furloughed workers cannot take part in any qualifying R&D activity and therefore generally cannot be included in your qualifying staff costs.
In July 2020, the Government announced a more flexible furlough scheme which allows you to bring back employees part-time. If your furloughed staff return to work part-time and take part in R&D activity, the associated staff costs to your business may be included within an R&D claim where they are undertaking qualifying activities.
Government funding – such as grants – often exclude small and medium sized businesses from claiming under the generous SME R&D scheme. This is due to EU competition rules on State Aid which continued to apply throughout 2020, and despite the end of the Brexit transition period, show no signs of changing in the near future.
Fortunately, HMRC have confirmed that the CJRS is not notified state aid. Therefore, if your employees have been working on an R&D project that qualifies under the SME scheme and those employees receive CJRS in relation to their salaries, this will not exclude the project from the SME scheme. It will only exclude your staff costs that are incurred during the furlough period.
This exclusion of staff costs during furlough applies to costs funded by CJRS, as well as any top-up payments made by the business. Additionally, should the decision be made to furlough an employee but not claim any government support, HMRC would still consider that the individual cannot be actively engaged in relevant R&D. HMRC would therefore also expect these costs to be excluded from your R&D claims, however, there are still some exemptions.
Where qualifying R&D is being undertaken and an employee has been regarded as ‘furloughed’ but you have not claimed for their salary under the CRJS, a proportion of the individual’s staff cost could be claimed. HMRC consider the payment of holiday pay as an essential cost of the employees undertaking R&D work, and as such, is part of your qualifying staff cost. This is because holiday days continue to accrue for employees while they are on furlough, and upon their return to work and resumption of qualifying activities, the cost of providing these annual leave days should be considered when making your claim.
