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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.
Introduction of Structures and Buildings Allowances (SBAs)
12 Feb 2019Commercial Property owners need to be aware for future tax returns of Structures and Buildings Allowances (SBAs). SBAs will ensure that expenditure on structures and buildings will now generally be relievable over time. This should encourage investment into structures and buildings intended for commercial use across the UK.
SBAs was introduced on the 29 October 2018 as part of the Autumn Budget. This new type of Capital Allowance is intended to encourage capital investment, as it gives tax relief on the costs of physically constructing new structures and buildings.
The relief will apply to newly constructed commercial structures and buildings where the contract has been entered into on or after 29 October 2018. SBAs include the costs for conversions and renovations of existing buildings.
Offices, retail and wholesale premises, factories, and warehouses all qualify for the flat rate two percent allowance over a 50-year period. Expenditure on residential property and land will not qualify for the relief. However, where there is a mixed use between commercial and residential the relief will be apportioned between these. Where the structure or building is renovated or converted, the expenditure will qualify for a separate two percent relief over the next 50-years.
SBAs will not impact the claimant’s entitlement to claim plant and machinery and integral features and fixtures such as lighting or heating systems. These will continue to qualify for writing down allowances including Annual Investment Allowance (AIA). Any expenditure that is claimed as SBAs will not qualifying for AIA.
If the building is subsequently sold there will be no balancing allowance or charge created, instead the new owner will claim the remaining allowances until the end of the 50-year period.
The introduction of SBAs does not reduce the importance of contacting your tax adviser to prepare a detailed Capital Allowances review. It will still be necessary to identify plant and machinery and integral features, as they significantly accelerate the benefit on these costs and cash flow for businesses. While SBAs are good, they don’t supersede the benefit of doing a cost segregation exercise, as it is unlikely anyone who incurs the cost will be in the business to see the cash flow benefit in 50-years’ time.
