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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.
Opportunities for investment
09 Aug 2016If you are an individual looking for ways to reduce your tax liability and perhaps you have utilised your pension annual allowance for the year, then the government-backed ‘Seed Enterprise Investment Scheme’ (SEIS) could offer an exciting opportunity with generous tax reliefs.
SEIS was created to boost economic growth in the UK and seeks to promote new enterprises. In return for investing capital in qualifying start-up companies, individuals are offered some of the most attractive tax reliefs available in the UK - up to 50% relief on income tax.
Based on its parent scheme, the Enterprise Investment Scheme (EIS), SEIS is designed for investment in even smaller companies and provides greater tax benefits compared with EIS.
Investments of up to £100,000 can be made per annum, across a number of SEIS companies in exchange for qualifying shares, up to a 30% stake in each company. To be eligible to enjoy the majority of the tax benefits outlined below, the shares will need to be held for at least three years. The tax benefits are:
- up to 50% income tax relief on the amount invested (regardless of your rate of tax) provided you have paid enough tax to offset your SEIS investment against. For example, if you invest £10,000 in SEIS you will receive £5,000 income tax relief to offset against your tax liability. The income tax claim can be made in the year of the investment or ‘carried back’ to the previous year;
- gains arising on the disposals of SEIS shares after three years are 100% exempt from capital gains tax, saving up to 20% tax;
- SEIS also benefits from a relief known as re-investment relief, where investors who are due to pay capital gains tax on a disposal of other assets, can exempt 50% of that gain (up to a maximum annual limit of £50,000) if the sale proceeds are reinvested in qualifying SEIS shares. It is therefore possible to receive a further 20% tax saving; and
- if the shares are held for two years or more there is a 100% exemption from Inheritance Tax.
To cushion against the risk of the start-up company failing, security is provided by allowing tax relief on a loss arising on the sale of the shares (after deducting the amount received as income tax relief) to be offset against tax paid on other income in the same year, at the highest income tax rate. For example, in the event the company is unsuccessful and you lose your entire investment of £10,000, due to the combination of tax reliefs, the overall cost to you would be £3,000 (as a higher rate tax payer) or even lower at around £2,000 if re-investment relief had been claimed.
Government statistics at April 2016 show that since the HMRC approved scheme was launched in 2012/13, 4,660 qualifying companies have received investment from individuals through SEIS totalling £424 million.
Overall these schemes are favourable in terms of the tax benefits and should be considered together with overall investment strategy.