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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.
Food for thought as D-Day for GDPR looms
10 Apr 2018GDPR appears to be the new buzz word on the street, with numerous articles, journals and books being published on the issue on a regular basis. But what exactly is GDPR and how will it affect Northern Ireland businesses?
General Data Protection Regulation, or GDPR, is the EU’s response to inconsistent data protection across member states and to the radically different ways personal data is being used in today’s society.
Essentially if an entity holds, stores or processes any personal data belonging to people within the EU then that entity will be required to comply with GDPR. The two year preparation period is nearly over with the deadline for full GDPR compliance on 25 May 2018.
An emerging misconception is that since GDPR was developed as an EU regulation it will not apply to the UK once it has left the EU. Clarification was provided in the Queen’s June 2017 speech where it was noted that, despite Brexit, GDPR will form part of UK law facilitating the sharing of data with EU states following the withdrawal of the UK from the EU. Notwithstanding this, if a UK organisation uses any personal data belonging to people in the EU (such as email address, IP address, phone number and financial data) it must be GDPR compliant. Therefore, it is important that the impact of its introduction is understood.
So what does compliance with GDPR involve? Unfortunately there is no short answer to this question, and it requires organisations and key stakeholders to take the time to familiarise themselves with the legislation and consider its inevitable implications. GDPR is not confined to multi-national corporations, all organisations regardless of size or sectors must ensure they are aware of their obligations to govern the control, storage and processing of any personal data belonging to people in the EU.
The cost of non-compliance is significant and any breaches of GDPR will be assessed, and fines administered, by the Information Commissioner Office (ICO). Fines will be very significant and can be up to €20 million (£17 million) or 4% of the global annual turnover (whichever is greater), besides any reputational impact.
It is likely that the ICO will take the view that given the two year preparation period and the widely publicised requirements there is little excuse for non-compliance. It is important that organisations act now to avoid such penalties.
To summarise, it is impossible to condense the 88 page long GDPR, 173 recitals and 99 articles into a few hundred words for this article however it is intended that this article may provide some food for thought on the potential impact of GDPR on local businesses. The consequences of failing to comply could be costly, and business leaders need to ensure their organisations are GDPR-ready, and that management teams are up to speed with their responsibilities.