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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.
We may only be a few weeks into the New Year, but ‘change’ is emerging as a solid theme for 2016.
Already a newly appointed First Minister has demanded "a new way of doing business", whilst research has revealed an encouraging increase in local investment transactions and analysts have welcomed an acceleration in new business expansion.
For the business community, the changes will not stop there. On 6 April 2016, significant modifications to the Dividend Tax Regime will come into effect.
Dividend income forms a significant part of total income for many business owners and investors. With only weeks left to the end of the 2015/16 tax year and income tax payments due on 31 January, now is an opportune time to become familiar with the impending changes.
Very simply, the altered regime will see the abolishment of the 10% notional tax credit and the introduction of a tax free allowance by way of compensation.
At present, dividends carry a 10% notional tax credit meaning that basic rate tax payers pay no income tax on dividend income; higher rate tax payers pay an effective rate of 25%; and additional rate tax payers (with taxable income over £150,000) pay an effective rate of 30.6%.
With the notional tax credit no longer applicable from 6 April, new higher income rates will be applied to dividends. For basic rate taxpayers the previously non-existent rate will now be 7.5%; for higher rate tax payers this will increase to 32.5%; and to 38.1% for additional rate tax payers.
To compensate in part for the loss of this tax credit, a tax free allowance of £5,000 will be introduced. This means that the first £5,000 of dividend income will not be taxed regardless of the tax payer’s other non-dividend income.
Dividends within this new tax free allowance will still count towards the tax payer’s basic or higher rate income tax band once the tax payer has utilised their personal allowance. In such circumstances, tax payers will therefore need to be conscious that the amount of any dividend received (even within the tax free allowance of £5,000) could have a direct impact on the amount owed to HMRC for income tax.
With just over two months remaining until the changes take effect there is still time to consider opportunities to mitigate personal tax liabilities and any additional tax due, ensuring affairs are structured in the most tax efficient manner. For example, maximising ISAs or the annual tax free dividend allowance and using pension contributions to increase the basic rate band.
If you, or your colleagues, will be affected by these new measures, you should seek guidance from a professional who can advise on the options available to best manage the changes.