Business consulting services
Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
Business process solutions
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
Business risk services
The relationship between a company and its auditor has changed. Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
Forensic and investigation services
At Grant Thornton, we have a wealth of knowledge in forensic services and can support you with issues such as dispute resolution, fraud and insurance claims.
Mergers and acquisitions
Globalisation and company growth ambitions are driving an increase in M&A activity worldwide. We work with entrepreneurial businesses in the mid-market to help them assess the true commercial potential of their planned acquisition and understand how the purchase might serve their longer- term strategic goals.
Recovery and reorganisation
Workable solutions to maximise your value and deliver sustainable recovery
Transactional advisory services
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
The International Financial Reporting Standards (IFRS) are a set of global accounting standards developed by the International Accounting Standards Board (IASB) for the preparation of public company financial statements. At Grant Thornton, our IFRS advisers can help you navigate the complexity of financial reporting from IFRS 1 to IFRS 17 and IAS 1 to IAS 41.
Audit quality monitoring
Having a robust process of quality control is one of the most effective ways to guarantee we deliver high-quality services to our clients.
Global audit technology
We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.
Corporate and business tax
Our trusted teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
Direct international tax
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
Global mobility services
Through our global organisation of member firms, we support both companies and individuals, providing insightful solutions to minimise the tax burden for both parties.
Indirect international tax
Using our finely tuned local knowledge, teams from our global organisation of member firms help you understand and comply with often complex and time-consuming regulations.
Innovation and investment incentives
Dynamic businesses must continually innovate to maintain competitiveness, evolve and grow. Valuable tax reliefs are available to support innovative activities, irrespective of your tax profile.
Private client services
Our solutions include dealing with emigration and tax mitigation on the income and capital growth of overseas assets.
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
Tax policies are constantly evolving and there are a number of complex changes on the horizon that could significantly affect your business.
Outsourcing Changes to the Outsourcing legislation, specifically when offshoringSignificant changes to the dynamic of the financial services sector in recent years have shifted the paradigms in how we work. The increased digitisation of the workforce, changes in business models, globalisation, and remote working capabilities have led to a new approach to the delivery of services.
Asset management Inflation and tax planningThe recent onset of rapid inflation is an unwelcome development that is having a widespread impact on US businesses and tax planning.
With the rising impact of COVID-19 being seen worldwide, all industries will face significant disruption to their supply chain, workforce and cashflow. By remaining agile and alert, business leaders can take steps to build resilience into their operations and mitigate the impact.
These are some key focus areas for businesses:
Cashflow and insurance
With changes and delays to your service, as well as falling customer demand, cashflows are likely to be strained. Therefore, creating a robust cash forecast is a priority.
A forecast will better enable you to speak to your finance suppliers about additional headroom and where it’s possible to relax operational covenants. Speak early and with clarity, to put yourself in best position with finance suppliers.
Take a look at the insurance cover you have, and whether you have a legitimate claim for this kind of disruption. Similarly, perhaps a successful claim could be made against your business for the cancellation of services or goods.
For businesses experiencing significant stress or distress, view more
Despite the existence of business continuity plans, the speed and scale of COVID-19 has exposed gaps. You need to check you have sufficient resources and supplies to outlast the pandemic and whether you have space to store them. Creating a detailed understanding for where the critical points are in your supply chain, and understanding how challenges at points on the supply chain can be mitigated, will help you maintain continuity of supply.
Prepare for shortages and price volatility in products and goods not for resale.
Ensure your cyber risk policy is up to date and that it has be communicated to your employees.
Your IT network needs to have the capacity and bandwidth for your whole team to work from home at the same time. If there are large numbers of staff absences, your IT staff will may struggle to cope.
Review your key internal policies, including your sick pay system, health and safety rules, travel policies and how your employment contracts would cover forced absences from work.
Employees need to know where they stand and they trust messages from their business leaders – tone, accuracy and relevance can make all the difference to behaviour. Clearly communicate what your people should do if they feel unwell and tell them what is happening with travel bans, sick leave, homeworking, hygiene measures, annual leave and strategies to keep the business operating effectively.
Understanding your employees’ profile is also critical; consider the flexibility you have to deploy people into different areas of your business, or the balance of people focused on survival or ongoing operations.
Customers, suppliers and stakeholders
It's worth being proactive and engaging with your stakeholders early. Make sure you plan for the unexpected consequences of the coronavirus on your business. Think about whether you will have the working capital for when activity picks back up.
Inform your clients and customers of any changes to your services. Customers may need extended terms from you and some suppliers might require different arrangements.
Communicate early and often with your suppliers and check in with your stakeholders. Note too that a supplier’s supplier may face issues that have a knock-on effect on your business, so do your research carefully.
Tax and audit
With coronavirus having an impact on your profits and cashflow, you may need extra time to pay any outstanding tax debt. Enquire about whether you could get a loan or grant, or claim a business rates relief discount, to see you through the worst of the outbreak.
Think about if employee absence could cause you to miss a deadline to file. You may be able to delay audit dates or make arrangements for an audit using a virtual (off-site) approach. Perhaps you will need to reschedule, given the uncertainty.
A 'wait-and-see' approach is being taken by most governments in response to the impact on tax filings and tax changes in response to the economic effects of the coronavirus. While a handful of countries have extended tax filing deadlines to ease the compliance burden for taxpayers during this challenging time, many more have yet to announce changes and the situation is fluid and changing day by day.
The mid-market has always been uniquely resilient and companies are used to preparing for business interruptions. Those that can develop plans and successfully bolster themselves will be ready to re-bound when the pandemic has eased.
If you’re working through how to adapt to the evolving crisis and have questions about the impact of coronavirus on your business, you can discuss your concerns with one of our experts.
Monitor the situation
The Coronavirus COVID-19 situation continues to evolve and the advice to businesses on how to respond is constantly being updated. Make sure you keep up to date with credible news sources and speak to your local Grant Thornton member firm to discuss concerns and mitigations on your business.