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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.
Tax Issues to Consider for Funding
26 Feb 2019We are seeing significant activity in the funding market in Northern Ireland. In 2018, there were 220 deals announced that Northern Irish firms took part in, and the value of these deals exceeded £2bn which is a marked increase of 28% from 2017.
These figures show that businesses are keen to expand and, in order to do so, they require essential funding to develop and follow their growth plans.
In the uncertainty of the current economic climate, raising finance can prove to be a major challenge for businesses. Whether finance is required to meet long or short-term goals, organisations must consider the costs and benefits of the method they choose. Businesses should explore the alternative options available to them before deciding on funding. In addition to choosing the right funding to enable and support the growth of business, companies should also consider the taxation impacts of financing.
2018 also showed an increase from the previous year in the number of applications for banking finance by small and medium entities. The figures are encouraging especially as nine out of ten applicants were approved for bank lending in Northern Ireland. Even when using traditional bank or loan financing there can be taxation impacts that companies should consider. Generally, from a tax perspective, interest payments on loans can be deducted in arriving at taxable profits. However, there are several pieces of legislation that need to be considered to ensure that this deduction is not restricted.
A tax review of major proposed financing could help to highlight any potential restrictions that would increase tax and thus constrain cash flow. Companies should take into account taxation impacts into their business investment appraisals to ensure any potential costs are identified at an early stage.
With the threat of Brexit looming, companies should also consider any overseas funding held. If a UK company is paying interest on a long-term loan to an overseas lender, there may be a requirement to withhold tax. Additionally, there is a risk of taxable foreign exchange movements if the loan is denominated in a non-Sterling currency. Careful consideration should be given to overseas funding as it can impact cash flow and tax liabilities.
Raising finance in a business needs to be considered from many angles including the growth strategy, risk profile and the opportunities. However, as the costs of raising finance can be significant it is at the point of going for funding that future taxation impacts should be considered as they could impact the funding method or structure chosen.
