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Business Consulting
Our Consulting team guarantees quick turnarounds, lower partner-to-staff ratio than most and superior results delivered on a range of services.
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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
Our experienced Corporate Finance team has provided a range of transaction, valuation, deal advisory and restructuring services to clients for the past two decades.
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Digital Risk
Our Digital Risk team offer advisory and consulting solutions that give our clients peace of mind, clear value for money and an enhanced ability to react to cyber attacks.
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Digital Transformation
Our Digital Transformation team work with business leaders to deliver efficient digital strategies and operating models that provide new or enhanced capabilities.
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Forensic and Investigation Services
Our Forensic and Investigation Services team have targeted solutions to solve difficult challenges - making the difference between finding the truth or being left in the dark.
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Objectives and Key Results (OKRs)
Objectives and Key Results (OKRs) is a goal setting framework that helps teams, individuals and organisations set and track measurable goals.
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People and Change Consulting
Our People & Change Consulting team help clients adapt to the changing nature of the workforce - how they attract, retain, engage, develop, deploy and lead their people.
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Restructuring
Grant Thornton is Ireland’s leading provider of insolvency and corporate recovery solutions.
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Outsourced Payroll
Our outsourced payroll teams become your dedicated payroll department, aiming to process your payroll in the most cost effective and compliant manner.
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Outsourcing
Grant Thornton's reliable and cost-effective outsourcing services help you streamline your business operations by taking care of your workload.
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Audit and Accounting Advisory
Our Audit and Accounting Advisory team takes the headache out of multi-jurisdictional audit compliance requirements as well as technical compliance with accounting standards and legislation for clients.
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Business Process Outsourcing
Grant Thornton’s Business Process Outsourcing (BPO) team serves the needs of rapidly growing mid-tier multinationals operating out of Ireland and other hubs through the provision of services across the full range of finance functions.
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Flexible People Solutions
At Grant Thornton, our Financial Accounting and Advisory Services (FAAS) department have a dedicated team that help finance functions maximise efficiency.
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Global Compliance & Reporting Solutions
Our Global Compliance & Reporting Solutions service offering covers a full suite of compliance services including financial statement preparation and related filings, dual bookkeeping, direct and indirect tax, statistical returns and payroll.
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Global Payroll Solutions
At Grant Thornton, we meet the challenges of our clients. Our Global payroll compliance service offering is tailored to meet all your payroll requirements through a single point of contact.
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Actuarial
Our Actuarial team provides a comprehensive range of services to our insurance clients. From regulatory support for compliance to delivering specialist expertise in insurance & reinsurance.
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Data Analytics
Our team helps to unlock the potential of data analytics within your organisation, allowing you to be more innovative, efficient and customer-centric than ever before.
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Digital and Fintech
Our FinTech team are experts in technology and financial services and have a long track record of helping companies achieve sustained advantage.
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Digital Risk
Our Digital Risk team offer advisory and consulting solutions that give our clients peace of mind, clear value for money and an enhanced ability to react to cyber attacks.
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Financial Services Audit
Our Financial Services Audit team offers expertise and knowledge along with a horizontal approach to solving clients’ problems and queries.
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Financial Services Consulting
We work closely with clients to understand their strategy and benchmark their performance against the very best international standards.
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Financial Services Tax
Grant Thornton Ireland has a team of over 100 tax professionals providing advice to a diverse range of clients in the Financial Services sector.
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FS Business Risk Services
Our FS Business Risk team have real experience of the financial services sector, through working within regulatory bodies or holding leadership positions in Risk, Compliance and Internal Audit functions.
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Grant Thornton Pensioneer Trustees Limited
The Grant Thornton Pensioneer Trustee service can offer business owners, directors and employees the opportunity to manage their own retirement choices with full transparency.
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Pension Audit
The Grant Thornton Pension Audit team has vast experience in managing schemes and preparing annual reports on them for clients.
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Prudential Risk
Our industry leading Prudential Risk team works with clients on a range of areas including regulatory reporting, regulatory authorisations, on-site investigations and data quality assurance.
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Quantitative Risk
Our Quantitative Risk team members bring a wide range of experience with many of them having backgrounds in banking, investment markets, regulation, professional practice, and academia.
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Sustainability desk
We recognise that businesses are operating at different levels of maturity when it comes to sustainability, and pride ourselves on working with our clients to develop bespoke solutions to their needs.
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Financial Accounting and Advisory Services (FAAS)
Our Financial Accounting and Advisory Services (FAAS) team designs and implements creative solutions for organisations expanding into new markets or undertaking functional financial transformations.
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Grant Thornton Financial Counselling
Grant Thornton Financial Counselling (GTFC) comprises a team of highly qualified professionals who offer financial advice to individuals and corporates across a range of areas including savings, investments, pension planning, and inheritance and succession planning.
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Inheritance Planning
Our services on Inheritance Planning mirror those on Succession Planning whereby the foundations of the plan are derived from meaningful conversations with those that wish to pass on or protect their asset base.
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Personal Tax Compliance & Planning
The Grant Thornton Personal Tax team helps clients remain compliant and up to date with all of their tax obligations whilst ensuring that they are solutions driven and manage their finances in the most tax efficient way possible.
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Succession Planning
We have extensive experience guiding our clients successfully through the succession process. This involves advice on both the qualitative and quantitative aspects of the process. While there is a business at the core of each succession plan we advise on, it is all predicated on understanding the people and their respective wishes.
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Company Secretarial
Grant Thornton’s Company Secretarial team contains qualified Company Secretaries. Clients are assured that they will meet all of their obligations under the Companies Acts and other relevant legislation and regulations.
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Corporation Tax
Our Corporation Tax team is made up of more than 40 highly experienced senior partners and directors who work directly with a wide range of domestic, international, and financial services clients. We place a strong emphasis on direct service to clients and we pride ourselves on the close personal relationships we build and the deep understanding of their businesses we develop
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Employer Solutions
Attracting and retaining key talent, managing employment costs and ensuring compliance with complex tax rules presents one of the most serious challenges today for many businesses. You need to ensure that your business complies with increasingly complex tax legislation and can adapt to updated Revenue guidance in a cost-effective way and we are here to help.
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Financial Services Tax
The Grant Thornton team is made up of experts who are fully up to date in terms of changing and evolving tax legislation. This is combined with industry expertise and an in-depth knowledge of the evolving financial services regulatory landscape.
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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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International Tax
We develop close relationships with clients in order to gain a deep understanding of their businesses to ensure they make the right operational decisions. The wrong decision on how a company sells into a new market or establishes a new subsidiary can have major tax implications.
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Tax Advisory
The Grant Thornton Tax Advisory team blends commercial experience and knowledge with tax expertise to advise clients on the full range of transactions including sales, mergers, restructurings and succession planning.
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Tax Incentives
Our Tax Incentives team help clients access vital cash funding and tax incentives to enable them to achieve their growth ambition.
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Transfer Pricing
Our Transfer Pricing team has extensive experience across all industries. They can assist clients in overcoming challenges and deliver sector specific, sustainable solutions.
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VAT
Grant Thornton’s team of indirect tax specialists helps a range of clients across a variety of sectors including pharmaceuticals, financial services, construction and property and food to navigate these complexities.
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Real Estate Tax Advisory
The Irish real estate market has experienced considerable change in recent years. This has resulted in the emergence of a number of challenges for investors, but has also brought about significant opportunities. With this in mind, taxation is now more than ever one of the key factors for real estate investors when appraising investments, financing methods and development structuring.
The government’s “July Jobs Stimulus” is a €7.4 billion package of measures aimed at supporting the Irish economy in response to the impacts of COVID-19. The package contains a suite of tax measures to the value of €1.4 billion, the balance going to expenditure, grants and credit supports. The Financial Provisions (Covid-19) (No.2) Bill 2020 (“the Bill”) provides the proposed legislation for the tax measures.
Managing tax debt
As we expected, the Bill contains the legislation providing for the Debt Warehouse arrangements announced in May 2020 and currently in operation by Revenue on an administrative basis. The provisions permit the “ware-housing” of VAT and PAYE (Employer) taxes deferred for the period the business was and is unable to trade, or was and is trading at a significantly reduced level, due to the COVID-19 related restrictions. The period includes two months after the business re-commences trading. Essentially such taxes can be parked, with no interest accruing, until economic conditions improve. Terms and conditions must be satisfied.
A separate measure provides for a reduction in the interest rate applying to agreed late payments of all tax debt. Taxpayers that have declared but unpaid tax debts can avail of a reduced interest rate of 3% (down from 8% or 10%) provided they enter into a payment agreement with Revenue by 30 September 2020.
Employer support
A new Employment Wage Subsidy Scheme (EWSS) will replace the Temporary Wage Subsidy Scheme (TWSS) with new conditions and rules. It will be open to employers operating in all sectors of the Irish economy subject to meeting certain qualifying conditions.
- The Temporary Wage Subsidy Scheme (TWSS) and the EWSS will run in parallel until 31 August 2020 to allow certain categories of workers previously excluded, for example seasonal workers and new hires, to benefit from the EWSS.
- The EWSS is due to expire on 31 March 2021, the Bill provides for a later date than 31 March 2021 if specified by the Minister for Finance.
To hear more on the latest updates to the TWSS and EWSS register for our webinar on Friday 7 August at 3pm.
Measures for individuals
The help-to-buy scheme is enhanced now until 31 December 2020. The amount of relief an individual can claim is to be increased to the lesser of €30,000 (up from 20.000) or 10% (up from 5%) of the purchased price of a new home / self- build property.
The “Stay and Spend” incentive will give Irish “staycationers” a 20% income tax credit on spending of €25 or more on accommodation, food and non-alcoholic drinks up to a maximum of €625. This means that individuals can claim back a maximum of €125 by way of a tax credit. This measure will apply from October 2020 until April 2021.
Accelerated loss relief for self-employed individuals is a new once-off relief which will allow sole traders and / or members of a partnership to boost their cash-flow by early utilisation of 2020 losses (and certain unused capital allowances) against 2019 profits, up to a maximum of €25,000.
The ‘Cycle to Work Scheme’ is enhanced in respect of regular bikes to €1,250 and “ebikes” to €1,500, with claims now possible every four years.
Accelerated Loss Relief for Companies
A welcome interim rebate of corporation tax will mean that companies may make loss relief claims in respect of 50% of their estimated trading losses during the COVID crisis hit 2020 accounting period against their prior year profitable results. Such claims can be made during 2020, thereby accelerating the tax refunds arising from the current loss making periods by up to 12 months. Companies will need to work with their tax advisors to estimate their 2020 trading losses now and make these refund claims forthwith for maximum cash flow benefits.
VAT rate reduction
The standard rate of VAT is to reduce to 21 % from 1 September 2020 until 28 February 2021. It is hoped that this temporary measure will improve cash-flow for businesses operating in the wider economy and stimulate consumer demand. Businesses should configure their systems to ensure the 21% rate is applied with effect from 1 September. Businesses which don’t have full VAT recovery may consider deferring significant expenditure.
Businesses operating in the tourism and hospitality sectors will be disappointed that the 13.5% VAT rate has not been reduced. In the UK, the VAT rate for these sectors has been lowered to 5%. Instead the government has opted for the stay and spend tax credit to encourage demand among consumers to support these businesses.
There are several administrative issues arising from this VAT rate change to consider.
Nothing for capital taxes
Despite rumours of a reduction in the capital gains tax rate from 33% to 20%, there are no changes to capital taxes. A reduction in stamp duty on non-residential property, now 7.5%, would have been a welcomed measure to promote commercial investment, which will inevitably see stilted activity in the immediate future.
The next step in the government’s efforts to support the recovery of the Irish economy will be the National Economic Plan, due to be published with Budget 2021.