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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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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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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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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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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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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.
Firms should still prepare for ‘no deal’ as Brexit transition period closes
23 Oct 2020Businesses should continue to prepare for all eventualities, including a ‘no deal’ as the end of the Brexit transition period looms, a major webinar hosted by leading advisory firm Grant Thornton has heard.
More than 170 business leaders joined the internet broadcast which heard from UK and Ireland-based experts on a range of matters relating to the potential changes to VAT and Customs, corporate and international taxes.
The event, entitled ‘Brexit – What Happens on the 1st January?’ shed light on the impact of the Northern Ireland Protocol outlining practical, yet crucial, steps businesses can take to ensure smooth transition into 2021.
Lee Squires, Head of Indirect Tax at Grant Thornton in Belfast, told the webinar there were three potential outcomes on 1st January.
“While we all hope that a deal can be reached, there is still the possibility of a ‘no deal’ Brexit at the end of the transition period, and as such, our advice remains that businesses should prepare for this as it will have the greatest impact.
“Without a free trade agreement, trade between Great Britain and the EU will revert to World Trade Organisation terms in 2021, although there is still hope that a deal can be reached even at this late stage.
“Thirdly, a ‘fudge’ may be reached whereby some elements of trade are agreed but more time is allowed to finalise outstanding details on other matters.”
And while whether or not a deal will be reached remains unclear, there is more certainty now than ever before, Lee explained:
“Regardless of the outcome however, the Northern Ireland Protocol will apply.
“This means Northern Ireland will continue to follow the rules of the EU Single Market for goods so there will be no regulatory checks on products moving between the region and the Republic.
“And although Northern Ireland will remain in the UK customs territory, there will be checks on goods entering the region from Great Britain.
“Business will therefore have to consider a number of scenarios in respect of VAT and customs for the future trading of goods, but much of that planning can be done now with the Protocol already agreed.
“Practical steps many firms have already taken include considering how they will submit customs declarations, the customs commodity codes for their products, whether tariffs are likely to be payable when goods move from Great Britain to Northern Ireland, the impact of VAT changes, and whether any customs special procedures or reliefs could mitigate impacts.”
Lee said those firms with the most advanced plans come 1st January will be best placed to deal with any further uncertainties or challenges that lie ahead.
“Planning for a ‘no deal’ even if an agreement is eventually reached is a no risk and prudent measure for any business. Firms are considering a range of options, how they can grow their business internationally, where they may need to restructure or streamline, and other cost-saving considerations that will be of benefit regardless of the outcome of the transition period.”
