Our Consulting team guarantees quick turnarounds, lower partner-to-staff ratio than most and superior results delivered on a range of services.
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.
Our experienced Corporate Finance team has provided a range of transaction, valuation, deal advisory and restructuring services to clients for the past two decades.
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.
Our Digital Transformation team work with business leaders to deliver efficient digital strategies and operating models that provide new or enhanced capabilities.
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.
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.
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.
Grant Thornton is Ireland’s leading provider of insolvency and corporate recovery solutions.
Our outsourced payroll teams become your dedicated payroll department, aiming to process your payroll in the most cost effective and compliant manner.
Grant Thornton's reliable and cost-effective outsourcing services help you streamline your business operations by taking care of your workload.
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.
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.
Flexible People Solutions
At Grant Thornton, our Financial Accounting and Advisory Services (FAAS) department have a dedicated team that help finance functions maximise efficiency.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
Our Tax Incentives team help clients access vital cash funding and tax incentives to enable them to achieve their growth ambition.
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.
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.
Amendments to IFRS 16 as a result of COVID-19
The International Accounting Standards Board (IASB) has issued amendments to IFRS 16 which simplifies how companies account for COVID-19-related rent concessions. IFRS 16 contains specific requirements on accounting for lease modifications including rent concessions that change the overall consideration for the lease. Lessees are required to assess whether rent concessions are lease modifications and, if they are, apply specific accounting guidance, which can be complex and burdensome. The simplification, otherwise referred to as the ‘practical expedient’ avoids the need for lessees to carry out an assessment to decide whether a COVID-19-related rent concession received is a lease modification or not. The practical expedient does not apply to lessors.
The practical expedient is only applicable to rent concessions provided as a direct result of the COVID-19 pandemic. In addition, the relief is only for lessees that are granted these rent concessions. All of the following conditions in relation to permitting a lessee to apply the practical expedient need to be met:
The 2020 amendments were applicable for reporting periods beginning on or after 1 June 2020. If the IASB had not extended the relief, the practical expedient would have expired by 30 June 2021. The 2021 amendments are effective for annual reporting periods beginning on or after 1 April 2021, however lessees are permitted to apply it early, including in financial statements not authorised for issue.
Lessees are not required to apply the practical expedient, it is optional. If the company choses to apply the practical expedient, the specific nature of the rent concession needs to be considered when accounting for it. Some practical examples of where the practical expedient might be used are where payments:
- are deferred for a period of time, and then increased at a future date
- are forgiven completely for a period of time
- are partly deferred and partly forgiven, and then partly increased at a future date.
If applying the practical expedient, the amendments require the entity to disclose:
- that it has applied the practical expedient to all its rent concessions, or if only some of them, a description of the nature of the contract it has applied the practical expedient to, and
- the amount in profit or loss for the reporting period that reflects the change in lease payments arising from rent concessions (as a result of applying the practical expedient).
Amendments to FRS 102 and FRS 105 as a result of COVID-19
FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland does not explicitly specify how to account for changes in lease payments that result from rent concessions. This could have led to differences in accounting treatment for COVID-19-related rent concessions which would have been unhelpful to users of financial statements. In response to this, the FRC issued amendments to Section 20 Leases of FRS 102 which require entities to recognise changes in operating lease payments that arise from COVID-19-related rent concessions that meet the conditions (detailed below) on a systematic basis over the periods that the change in lease payments is intended to compensate. In comparison to the amendments to IFRS 16, the amendments to FRS 102 and FRS 105 are mandatory and applies to both lessees and lessors. A lessor shall recognise any change in lease income arising from rent concessions that meet the conditions (detailed below) on a systematic basis over the periods that the change in lease payments is intended to compensate.
Conditions to be met:
The requirements apply only to temporary rent concessions occurring as a direct consequence of the COVID-19 pandemic and within a limited timeframe. The treatment is intended to reflect the economic substance of the benefit of these concessions and their temporary nature and improve the consistency of reporting for users of financial statements. Similar amendments are made to FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime. The effective date for these amendments is accounting periods beginning on or after 1 January 2020, with early application permitted.
On 20 April 2021, the FRC issued FRED 78 that proposes to extend the application period of requirements that cover the accounting treatment of temporary rent concessions occurring as a direct consequence of the COVID-19 pandemic by one year. FRED 78 proposes to extend the requirements originally introduced into FRS 102 and FRS 105 in October 2020 and apply to rent concessions that reduce only lease payments originally due on or before 30 June 2022, provided the other conditions for applying the requirements are met. The FRC says it expects to finalise these amendments in the first half of the year.