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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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Digital Risk
Grant Thornton offers solutions to the digital risk issues you are sure to face. Our skilled and experienced security team can helping by advising and consulting, giving you peace of mind, clear value for money and an enhanced ability to react to attacks.
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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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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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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.
Access to information held about any of the 3.6 million companies at Companies House has become effortless over recent years and generally can be accessed free of charge, within a few minutes on any smart device. Following the introduction of the Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015 (Statutory Instrument 2015/980), the financial information that will be available at Companies House is changing.
Under the new regulations however, small companies (excluding micro entities) registered in the United Kingdom no longer have the option of filing abbreviated accounts at Companies House. For those entities abbreviated accounts have been abolished.
The regulations will be mandatory for accounting periods beginning on, or after 1 January 2016 although early adoption is permitted, and some local companies are already taking advantage of the new regime.
The new regulations introduce the principle of “file what you prepare”, so, from the above date, a small company may prepare and file full accounts; or 2) prepare and file “abridged” accounts; or 3) prepare and file “filleted” accounts.
Small companies have always had the option to file full statutory accounts, instead of availing of any relevant exemptions available. It is unlikely that this will be the preferred option for many businesses, as it may involve lengthy disclosures and more detailed financial statements.
Abridged accounts are a new concept introduced by the new regulations. In this context, abridged accounts permit the profit and loss account to start at the “gross profit/loss” line, and also reduces the analysis required on the face of the balance sheet. In order to prepare and file abridged accounts, all members must approve the abridgement and this fact must be stated on the balance sheet. The directors will need to obtain this consent every year. This option is not available to charitable companies.
Filleted accounts are likely to be the most popular option for small companies going forward, due to the similarity to the former abbreviated accounts. Filleted accounts use an exemption contained within section 444(1) of the Companies Act 2006, and permit the exclusion of the directors’ report and the profit and loss account from the accounts filed. The balance sheet must state that this exemption is being utilised. There is also a provision within section 444 of the Act that also permits the exclusion of the audit report for those small companies who are audited, provided that certain disclosures are made elsewhere in the financial statements.
Of perhaps greater significance is the fact that the new regulations have increased the small company thresholds, meaning more companies will be able to avail of the above. A company will qualify as small if it meets two of the three following thresholds:
- turnover £10.2m; total assets;
- £5.1m; and
- employee numbers 50.
The Government announced in 2016 that the audit threshold will also increase, to retain the alignment with the small company definition. The increased audit threshold is not available for early adoption, but will come into effect for periods beginning on or after 1 January 2016.