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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.
The Levy is here!
02 May 2017With a busy news agenda over the last few weeks, the Apprenticeship Levy came into effect with little fanfare on 6th April 2017. The Apprenticeship Levy is a cornerstone of the government’s skills agenda, creating a system which puts employers at the heart of designing and funding apprenticeships to support productivity and growth.
Employers are expected to pay levies of £2.6-2.8 billion per annum, although the bulk of that sum will be paid by larger organisations with an annual pay bill of over £3 million. The levy is only one part of the story. For those employers who engage with the changes to the apprenticeship regime, there is the potential to harness the many and well documented benefits that apprentices bring to an organisation. The following should be considered:
- many apprentice programmes attract funding. However, each of the devolved administrations, including NI, will continue to have complete flexibility over training and apprenticeships within their respective budgets. Consequently apprenticeship funding in NI will be determined independently of the amount of the amount of Levy revenue allocated to NI by Westminster;
- with respect to employment taxes, there is a National Insurance exemption for Employer NIC on 16-25-year-old apprentices, meaning a potential tax saving of 13.8% on their wages; and
- where progression planning is a priority, having a pipeline of talent coming through is naturally important and training can be used to develop future or current managers directly. The training could be for new hires or upskilling existing employees, with apprenticeships providing a means to recruit and also progress individuals.
For employers, companies, groups, charities and not for profit organisations with an annual pay bill of £3 million the 0.5% levy will be applied to their staff pay bill; collected with PAYE, and paid together with tax and national insurance.
Most payroll software will already have been updated to facilitate the calculation, but it is advisable for organisations to take action now to ensure that they understand the criteria for levy payments. Although the levy is only a few weeks old, already some myths already exist around what is or isn’t required, including:
- salary sacrifice must be added back in (not true);
- businesses don’t pay the Levy until it reaches the £3millon (not true);
- allowance is applied per PAYE scheme (not true); and
- only applies to Employers with apprentices (definitely not!).
Businesses that operate as part of a group of companies or as associated entities, with multiple PAYE schemes, should pay particular attention to the need to apply the £3milion threshold to the group as a whole. Much the same way as the Employer Allowance for NIC is reclaimed from HMRC.
An allowance of £15,000 will be available to offset against the Levy, but likewise will be shared, split or apportioned between all group and connected entities.
For those businesses that will have to pay the Levy it should not simply be viewed as a cost. The main focus should be to understand the business’s current position, its future requirements and fundamentally how to gain a competitive advantage through the new apprenticeship arrangements.