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Our progressive thinkers offer services to help create, protect and transform value today, so you have opportunity to thrive tomorrow.
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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.
Our audit services can strengthen your business and stakeholders' confidence. You'll receive professionally verified results and insights that help you grow.
Our tax services help you gain trust and stay ahead, enabling you to manage your tax transparently and ethically.
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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.
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Article
Exploring the pros and cons of outsourcing
21 Nov 2017Outsourcing is a business practice used by organisations to move certain processes, functions or activities to specialist external providers. Organisations choose to outsource these areas of their business for various reasons, including, if they do not have the relevant expertise in house, this allows them to reduce operational costs and frees up time to concentrate on their core business.
For example as organisations grow many choose to outsource their payroll function. This function requires significant compliance and submissions to HMRC and by employing a specialist payroll company the compliance risk is mitigated, as are the issues which arrive from having to implement changing tax rates on an annual basis.
Before any organisation makes the decision to outsource any of their services to an outside entity, rather than perform them in house, it is essential to understand the associated advantages and disadvantages.
The advantages to outsourcing include:
- Cost savings: outsourcing reduces the need to hire staff in-house and purchase expensive software to operate the service so can lead to large operational cost savings;
- Access to expertise: the outsourced entity will be specialist in their fields who have the technical expertise and equipment required allowing them to processes transactions faster and ensuring a quality output is achieved;
- Risk-sharing: outsourcing certain processes allows the organisation to shift responsibilities to a specialist provider therefore mitigating the potential risks of non-compliance with laws or regulations;
- Flexibility: outsourcing gives organisations flexibility in staffing; and
- Focus on core business: Outsourcing the non-core activities allows management to concentrate and focus their expertise on the core business rather than spending additional time unnecessarily on an administrator task.
The disadvantages to outsourcing include:
- Data security issues: when an organisation outsources services it will involve a risk of exposing confidential information to that third party. This is particularly relevant given the introduction of GDPR;
- Deliverables not met: if the wrong provider is chosen certain deliverables may be missed or late;
- Lack of customer focus: the outsourced partner will be performing these services for a number of organisations and there may be a lack of focus on your organisation’s service resulting in delays;
- Losing management control: management may no longer be able to control activities they would previously have been responsible for;
- Quality issues: Failures or delays as a result of appointing a provider without the proper skills, experience or capacity; and
- Unforeseeable circumstances: Risks such as bankruptcy of the external provider could leave a business loosing valuable information and possibility incurring financial loss if statutory filings are not meet or liabilities paid on time.
Outsourcing part of a business’ activities is becoming more common and the fact that many successful multi-national companies outsource significant parts of their administration functions underlines that it is worth all businesses considering if it is appropriate for them.