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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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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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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.
R&D credits impacting your cashflow
10 Sep 2019HMRC are currently experiencing significant delays in processing R&D SME tax credit claims and RDEC claims. They have recently announced a recovery plan which has a target date of 30 September 2019 to get through the backlog, with current statistics showing HMRC are currently processing SME R&D tax credit claims submitted in May 2019 and RDEC claims submitted as far back as December 2018.
Businesses have raised concerns that claims they submitted in late 2018 have still not been processed and this is having an impact on their resources to continue with R&D activities. Responding to these concerns, HMRC have provided some further details on its recovery plan. The plan includes having additional staff to process the R&D claims, which will cover both SME R&D and RDEC claims, as well as moving the processing of the claims to colleagues in the customer services group, who have a wider pool of staff and will be able to cope better with any seasonal fluctuations in the demand for processing. As a result they are aiming to have all current claims up to date by 30 September 2019. They will continue to provide updates through the R&D Consultative Committee regarding their expected turnaround times.
HMRC guidance states that their approach for handling R&D SME tax credit claims would previously have been to deal with them within 28 days, where they would have either paid the payable tax credit or contacted the company regarding the claim. An SME making an R&D claim can expect all of the corporation tax issues to be dealt with by the R&D specialist unit. It should be noted that claims made by a larger company, or companies that form part of a group should expect the processing of the claim to take slightly longer than the standard turnaround time, with the specialist R&D unit being responsible for any aspect of the R&D claim.
So what does this mean for businesses considering making an R&D claim? With many companies having a September or December year end, an influx of further R&D claims are expected. Businesses should be proactive in engaging with their specialist R&D consultants now to ensure that their claims are submitted ahead of their corporation tax return submission deadline, thus ensuring the cash flow benefits of the incentives are attained as soon as possible. Please take all the above delays into consideration when planning future cash flow for your business.