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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.
Cross Border Tax Enquiries
31 Jul 2018Since HMRC came into being, with the merger of Inland Revenue and Her Majesty’s Customs and Excise in 2005, there has been a greater desire for the departments to work more closely. What began with small joint-working teams dealing with ghosts and moonlighters has now moved into the main-stream, resulting in the working of cross-tax enquiries by the Wealthy and Mid-Sized Business Compliance Directorate (WMSBC).
Although the perception may be that cross tax enquiries are generally undertaken into larger companies, the WMSBC are responsible for around 100,000 businesses with a turnover between £10m and £200m, so mid-sized businesses are exposed too. HMRC takes into consideration a number of factors including, the rate of growth of a business, its past compliance, sector and ownership, to name but a few.
Typically, HMRC will present a team which includes specialists in Corporate Tax, VAT and PAYE together with Data Handlers but may call on other specialists as and when required. It is not unusual for HMRC to enquire into the directors’ personal tax affairs as well, either at the start or during the enquiry, using the statutory powers available.
When HMRC carry out a cross-tax enquiry they will typically wish to review the following: Corporate Taxes, the accounting period under enquiry; VAT, the VAT quarters in the last 12 months which may be extended to four years if appropriate and PAYE, a 12 to 24 month period, which can be extended if appropriate.
In the first four months of 2018, our teams have seen a 40% increase in the number of claims relating to Corporation Tax full enquiries compared to 2017. Anecdotally it appears that the number of cross tax enquiries conducted by HMRC increased last year and this is likely to continue in 2018 and beyond.
For businesses who receive a cross-tax enquiry, they are not only faced with the financial and time costs of dealing with HMRC but also the distraction from running their day-to-day operations.
Upon receipt of the opening letter, it is advisable for your tax advisor to speak to the lead officer to discuss the perceived risk areas and to agree the best way forward and how to progress the enquiry in a swift and efficient manner.
HMRC generally seek an early meeting with the directors to discuss the business activity, their role and the record-keeping systems in place. Whilst HMRC cannot insist the directors attend, we would advise and consider whether attendance at this meeting would benefit our client or HMRC.
The directors, more often than not, have the best understanding of the business, its systems and processes and are best placed to explain them. The meeting is an opportunity for the directors and their advisers to propose the best approach to deal with HMRC’s concerns.
With the reported average length of an enquiry reaching nearly three years for larger cases, having insurance to cover the professional fees in relation to a cross tax enquiry is essential. Local businesses should be looking to learn more about the Tax Investigation Fee Insurance to provide peace of mind.