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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.
When to seek advice
09 Jun 2020“I did not ask the Prime Minister about this decision” and “I believe that in all circumstances I behaved reasonably and legally”. I am sure everyone has an opinion on the recent actions of the Prime Minister’s Special Advisor and whether you agree with him or not, the matter raises the important question of when should you seek advice.
The word ‘unprecedented’ has been frequently used in the last three months, however, I do think that everyone would agree that we are currently living in unprecedented times and the global pandemic has produced economic conditions unknown for a generation.
In these circumstances, the Government has developed a suite of short-term strategies to ease the economic impact. One of these is the Corporate Insolvency and Governance Bill, which was laid before Parliament on 20 May 2020. This Bill will bring in fundamental changes to the insolvency regime in the UK, including Northern Ireland. It includes one important element which is relevant in the context of Mr Cummings’ trip to Durham and the logic of his decision making.
The Bill will temporarily suspend the threat of personal liability arising from wrongful trading for Directors who continue to trade a company through the crisis with the uncertainty that the company may not be able to avoid insolvency in the future. Therefore, if the Directors believe that due to the current crisis the company is insolvent and they continue to trade, in the knowledge that the company may become insolvent, they will not be personally liable for worsening the position of creditors. Administrators and liquidators will not be able to take any action against directors for any losses suffered by creditors if they continue to trade while the wrongful trading provisions are suspended. The rationale for the change is to avoid directors making a short-term decision to close the company in order to avoid the threat of personal liability.
However, all other checks and balances included in the insolvency legislation, including the Directors Disqualification provisions, remain in place, and, therefore, directors should continue to make decisions based on sound financial information and seek professional advice before making any fundamental decisions which affect their shareholders, lenders, employees and creditors.
The lesson from the current climate for all directors is to document their decisions and seek professional advice from an Insolvency Practitioner and / or their solicitors. Many directors will never have experienced the current circumstances, and are having to make fundamental decisions under pressure and in a short period of time. The best piece of advice is to seek advice before making the decision. If you can demonstrate that you sought professional advice before taking a certain course of action, it may avoid criticism or worse in the future.