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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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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.
New Corporation Tax Rules for Non-Resident Landlords
24 Jan 2020From 6 April 2020, changes are coming which will affect the way in which non-UK resident companies are taxed on any profits made from UK property businesses. Any companies which may be affected should discuss the impacts with their advisers to ensure that the transition takes place as seamlessly as possible and all compliance requirements are met.
Under current rules, corporate non-resident landlords (‘NRLs’) are subject to income tax on UK property rental income. From 6 April 2020, new rules come into play whereby corporate NRLs will instead be chargeable to corporation tax.
This update will bring about new requirements for administration and potential changes in the rate of tax applied to profits.
The rate of income tax previously applying to NRLs was 20%.Under the new regime, this will fall to the corporation tax rate. The current rate of UK corporation tax is 19%. Furthermore, the planned reduction to 17% from April 2020 has been put on hold to prioritise money for the NHS and other services. The Spring Budget on 11 March will be expected to confirm this position.
There are several administration aspects that NRLs will have to comply with under the new regime. Any company that currently files a NRL return will need to register for corporation tax if they have not completed this already. This should be automatic for existing NRLs that have previously filed returns with HMRC but any new entities will be required to register.
Other differences from the existing regime include the due date for filing corporation tax returns and the date on which payment of tax is required, which could impact cash flow. Returns will be required to be filed online within 12 months of the accounting period end along with iXBRL tagged accounts. Payment of corporation tax will be due to HMRC nine months and one day after the end of the period. Companies may also have to consider whether they will qualify as a large company for corporation tax purposes, which could mean that payments are required quarterly throughout the year.
In addition, NRLs will be subject to additional corporation tax legislation and anti-avoidance rules that were not applicable under the previous regime. They will have to consider whether they fall into a corporate group for tax purposes, and this could have follow on effects on how losses are able to be utilised by the NRL and how much interest can be deducted when calculating taxable profits.
Any NRLs which generate income from UK property should review their portfolio with their advisers to ensure the potential impact of the new rules has been considered. This will allow companies to plan ahead for any additional compliance and payment obligations.
