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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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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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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.
Latest Brexit developments and Northern Ireland
22 Oct 2019Following another tumultuous week of developments in Brexit, the final outcome remains uncertain.
Last week, Boris Johnson agreed a new Brexit deal with the EU in the form of a revised Withdrawal Agreement, with a replacement Protocol on Northern Ireland. On Saturday, the House of Commons did not approve his revised deal, but instead voted to defer any approval until all the necessary legislation to deliver the deal is in place.
Later on Saturday, Boris Johnson sent two letters to the European Council. The first unsigned letter, required by the so-called Benn Act, formally asked the EU for a delay to the UK’s exit from the EU. The second signed letter said that the UK government did not really want an extension. This week, we expect the detailed legislation to implement the new Brexit deal to be brought before Parliament.
So, what does this all mean for businesses in Northern Ireland?
Three options remain: leaving with no-deal, leaving with a deal, or an extension and delay. There is a chance that all the legislation needed to implement Brexit could be approved by Parliament in time to leave on 31 October, although the deal must also be ratified by the European Parliament. The EU might agree to an extension, although Boris Johnson is likely to do everything he can to frustrate this. A no-deal Brexit on 31 October seems the least likely option but remains a real risk.
If the Withdrawal Agreement is passed, the UK would enter a transitional or ‘implementation’ period until at least 31 December 2020. During this time, the UK would be treated as an EU member state for most purposes and would be required to implement all EU laws, meaning very little would change. The situation from January 2021 onwards would be determined by the future trading relationship negotiated between the UK and the EU during this transition period. The latest UK/EU Political Declaration suggests that the UK is now seeking a free trade agreement without the close alignment with EU rules envisaged by Theresa May’s deal.
Under the revised Northern Ireland Protocol, Northern Ireland would have a unique status, described as part of the UK customs territory but still applying EU customs rules. In practice, this would mean that goods moving from Great Britain to Northern Ireland would be subject to customs processes and payment of EU customs duties unless, under rules yet to be agreed, it could be shown that the goods are not at risk of crossing the border into the EU. However, the Northern Irish importer could seek a rebate of any duties if it could show the goods remained in Northern Ireland.
Northern Ireland would also follow most of the rules of the EU’s single market in goods and the EU’s VAT rules. These measures should ensure that there is no need for a hard border between the Republic of Ireland and Northern Ireland but at the cost of having a customs border of sorts between Northern Ireland and Great Britain.
Finally, the Northern Ireland Assembly would be able to vote to discontinue these arrangements, by a simple majority vote, once every 4 years.
For now, we recommend businesses should maintain their no-deal contingency plans for 31 October, while keeping track of developments this week.