-
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.
Don’t let Brexit uncertainty cause your company to miss out on tax relief!
18 Jun 2019Fearful of what the post-Brexit UK economy will be, many companies have been reluctant to invest in capital expenditure. As part of an initiative to encourage capital investment, the government are offering tax relief of up to £2million for qualifying expenditure incurred between now and 31 December 2020.
The relief is obtained by the company claiming Annual Investment Allowance (AIA) in their corporation tax return. AIA is a year-one capital allowance, which reduces taxable profits. This allowance has been around for a numbers of years, but has been increased temporarily to £1million per annum until 31 December 2020.
AIA can only be claimed on qualifying expenditure, which broadly means plant and machinery, but could extend to elements within commercial buildings. A claim for building expenditure should be subject to a capital allowance review undertaken by a qualified professional.
If your company lacks sufficient cash reserves to invest £2million before 31 December 2020, you may believe this initiative has no relevance. However, if your company enters into a hire purchase contract to acquire qualifying assets, it will be entitled to claim AIA in the period the contract is entered into. The tax relief available will be based on the future payments to be made under the hire purchase contract.
This offers an opportunity for cash strapped businesses to reduce their corporation tax liability, at the same time as investing in their business without incurring significant cash outflows, initially. Such companies may hope that future hire purchase payments could be funded by an increase in profits generated by the capital investment.
As the increase to AIA is temporary, before investing we would advise you to consult with your tax advisor. A specialist team can help identify qualifying expenditure and confirm when you need to have incurred it or entered into the hire purchase contract in order to maximise relief, and avoid the potential pitfalls associated with AIA.
Companies whose year-end is not aligned with the calendar year need to be aware that transactional rules may restrict relief. For example, a company, with a year ending 31 November 2021, invests £1million on qualifying expenditure on 31 December 2020 will only be entitled to claim AIA on £266k of the expenditure and not £1million they may have expected.