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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.
Government Business Support Deadlines Approaching
02 Mar 2021As we approach the landmark of one year living with various restrictions and lockdowns, Covid-19 continues to cause uncertainty around how we will live our lives in the short-term. For many business owners, this uncertainty will mean that additional funding will be required to support businesses through the on-going period of restrictions.
Government supports available and being widely publicised, are the Bounce Back Loan Scheme (BBLS) for funding up to £50,000 and the Coronavirus Business Interruption Loan Scheme (CBILS) for funding up to £5 million.
For both schemes, the Government will cover any lender-levied fees, meaning that your business can benefit from no upfront borrowing costs. Businesses that avail of the BBLS benefit from having no capital or interest repayments for the first year. For CBILS loans, businesses will remain liable for any capital repayments in the first year, however, will benefit from the Government covering the first year of interest repayments resulting in lower initial monthly repayments.
While many businesses have availed of one of these schemes, there are eligible businesses that may have a funding requirement and are yet to apply for one of the Government support schemes.
If you are yet to apply for either of the schemes, you should first prepare a detailed cash flow to determine if your business has a funding requirement, and if so, what that funding requirement is. You should then contact your funder to discuss the options available to you and understand what information would be required to support any loan application.
Given the larger amounts that can be borrowed with a CBILS loan, the application process for CBILS is more onerous than for a BBLS loan. The eligibility criteria for CBILS loans includes that the business must have a borrowing proposal which the lender would consider viable were it not for the pandemic. The information required to demonstrate this viability differs between lenders, however, you should expect at a minimum to provide historic accounts, up-to-date management accounts, and a 12-month forecast.
With the deadline for applications to these schemes being the 31st March 2021, this does not leave much time to ensure that the relevant documentation is in place to support a loan application. While there is expected to be a revised scheme to succeed the CBILS, at the time of writing this article, details of any future scheme have not been published.
Further information about both schemes, including the full eligibility criteria, can be found on the British Business Bank website.
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