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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.
Legal services sector is soaring – but cash remains king
23 Feb 2016The expansion of the professional services sector offering in Northern Ireland in recent years has been exceptional. Belfast is now becoming a recognised global hub for legal services, in particular, and as our economy re-establishes sustainable growth, the local professional services sector will increasingly be required to deal with the needs of businesses operating here and beyond our shores.
In addition to Northern Ireland’s reputation for offering high service quality and good productivity, operating costs are reportedly 50% less than London and 30% less than Dublin, making the Province a magnet for international law firms.
Allen & Overy, Herbert Smith Freehills, Baker & McKenzie and Axiom Law all have significant and growing operations here. The growth is not only good news for lawyers, but also provides opportunities to, for example, HR, technology and project management professionals.
Significant growth has also been reported by many of the indigenous NI law firms despite real challenges of talent management, competition and regulation.
The growth in the sector is undoubtedly good news. However, law firms should not ignore the fact that optimising cash flow is, ironically, particularly important in times of expansion. Whilst firms will rely on differing sources of external funding, often inadequate focus is given to the cheapest form of liquidity available to them – the release of cash ‘locked-up’ in Work in Progress and Debtors.
Managing ‘lock-up’ in professional services firms can be challenging. A balanced picture of the working capital requirements of a firm during the course of the year is often not reflected in the year-end financial statements. For working capital management to be effective, the all year round ‘Contract to Cash’ cycle should be embedded in the culture of any professional services firm.
Billing regularly and managing debtors will help the firm remain financially sound and will also assist management when considering how best to invest for growth. Good working capital management will not only reduce billing write-offs, but crucially will also support growth initiatives through the release of valuable cash resource.
The outlook for the legal services sector in Northern Ireland is positive. Whether it is the provision of advice to foreign direct investors hoping to avail of the potentially reduced Corporation Tax rate in April 2018, or the development of contingency plans to deal with any constitutional change that may potentially arise from BREXIT, local law firms will have an important role in providing advice to the local, national and international business communities.
However, in both good and bad times, cash flow management ought to remain a high priority for the sector.