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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.
In advance of the Chancellor’s forthcoming Autumn Statement, it is worth taking stock of the measures the Government has already introduced to encourage people to be sufficiently prepared for their retirement.
A number of incentives, including changes to the taxation of savings income, new savings incentives, pension auto-enrolment and an online pension dashboard have been introduced in order to help people achieve that goal.
The details
From April 2016, savers can enjoy £1,000 of interest income tax free (or £500 for higher rate tax payers) and £5,000 of dividend income tax free. Interest is being paid gross making it simpler for many savers, who will pay no tax on their investment income. Where savings income exceeds the allowances, a self-assessment tax return may be required to be submitted to HMRC along with payment of the additional tax due.
Incentives such as the ‘Lifetime ISA’ have been launched to promote saving for retirement. From April 2017, individuals between 18 and 40 can save up to £4,000 per annum and receive a government bonus of 25% (equating to a payment of up to £1,000 per year,) provided some fairly restrictive conditions are met.
Pension auto-enrolment is now well established and makes it compulsory for employers to automatically enrol qualifying employees into a registered pension scheme. Contributions can reach up to 8%, however, for annual earnings of between £22,000 and £52,000, an 8% contribution alone may be unlikely to provide a sufficient pension in retirement. Therefore, savers may wish to consider supplementing this in other ways. To date, almost six million people have already been enrolled in the scheme.
National insurance (NIC) savings are often overlooked in considering pensions. With employer pension schemes, no NIC is paid on pension contributions made by employees into employer schemes as the amount is taken from gross income. Personal pension contributions, on the other hand, are made from income which has already suffered NIC. Employer salary sacrifice schemes therefore offer a huge benefit and can be implemented to take advantage of the NIC savings.
In summary
Finally, the Government has committed to making an online Pensions Dashboard available by March 2017, providing savers with access to all their pension pots and help them to plan for their retirement more effectively. It is estimated that up to £400m of forgotten pension savings could be unlocked by connecting workers with their pots from previous employers. To provide further support, the Government are also consulting on a new ‘Pensions Advice Allowance’ which should come into effect in April 2017. This is to allow people approaching retirement to use up to £500 out of their pension pots tax-free towards the cost of financial advice.