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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.
It has been very clear from the start of the year that our high streets and shopping centres are continuing to transform and there have been significant shop closures to well-known brands, such as New Look, Toys r Us and Maplin. The recent administration of House of Fraser is further evidence. Pressure from online shopping, minimum wage increases and economic uncertainty arising from Brexit have all taken their toll on retailers.
It is evident that change is required. Marks and Spencer plc Chairman, Robert Swannell notes in the company’s 2017 annual report, that after a difficult year, they are making changes and that “our stores will be more relevant to the changing needs and habits of our customers in a digital world”.
It is not all doom and gloom however, and there are a number of companies that continue to grow and to trade successfully on our high street. Retailers such as Holland & Barrett, Greggs, B&M Bargains, Lush and Waterstones continue to grow and open stores. Where some of the major retailers, such as Marks and Spencer and Tesco are decreasing store size, Holland & Barrett are opening larger stores, up to 10,000 square foot, with the intention of offering consumers additional choice. Other retailers that are seeing growth by offering consumers additional choice and enhancing the customer experience are Sainsburys and Waterstones.
Sainsburys announced record Christmas sales and attribute much of this to the additional choice that they can now offer consumers, through a differentiated food range and the acquisition of Argos. The company states that they continue to invest in channels to meet consumers’ changing shopping habits. Waterstones announced an 80% increase in profits after making significant changes. The book chain has seen significant growth and much of this has been attributed to the opening of coffee shops within the stores.
Changing the customer experience has also returned rewards in the food sector, with high street food outlets now able to use the like of Deliveroo to deliver to their customers’ homes. There are a number of city centre food outlets that are benefiting from the new model and sourcing retail space to facilitate both delivery and on-site eating.
Whilst many retailers are achieving growth through an enhanced customer experience and investment in technology, at the other end of the spectrum we have seen the growth of the discount store. B&M Bargains, Lidl and pound shops have continued to open up stores in Northern Ireland over the last few years. Whilst the stores may contain significant bargains, the appearance is basic and online shopping is limited. The difficulties experienced by Poundland should serve as a reminder however, that no sub-section of the retail market is truly robust or immune from a changing marketplace.
In this time of change, it is very clear that retailers need to keep on top of changing consumer preferences. Adapting the business model to meet a changing demand for excellent value, choice and service from the consumer, and to provide excellent retail experiences, will be key to high street survival.