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Aviation Advisory
Our dedicated Aviation Advisory team bring best-in-class expertise across modelling, lease management, financial accounting and transaction execution as well as technical services completed by certified engineers.
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Business Risk Services
Our Business Risk Services team leverage our risk, internal audit and technology subject matter expertise to critically assess your governance, risk and internal control mechanisms, thus helping you to better manage risk and enable more informed decision making.
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Consulting
Whatever your business needs, our Consulting team can help you to move forward and identify and implement major transformations efficiently and effortlessly.
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Financial Accounting and Advisory Services (FAAS)
As organisations expand into new markets or undertake functional financial transformations, the challenges faced by their accounting and finance teams become more complex. The Financial Accounting and Advisory Services (FAAS) team at Grant Thornton is a multi-disciplinary team that designs and implements creative solutions to address these complexities.
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Fintech
Our Fintech team will be offering you an opportunity to sit with our experienced consultants to discuss your challenges.
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Forensic Accounting
Organisations may undergo some type of dispute or internal investigation during their lifetime. Our Forensic Accounting team can seek evidence that can make the difference between finding the truth or being left in the dark.
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Risk Advisory
Our Risk Advisory team delivers innovative solutions and strategic insights for the Financial Services sector, addressing disruptive forces, regulatory changes, and emerging trends to enhance risk management and foster competitive advantage.
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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 exact needs.
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Company Tax
Our tax team is made up of highly experienced professionals who work with our clients to ensure they are compliant with all aspects of their corporation tax obligations by gaining a deep understanding of the businesses.
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Global Mobility
Grant Thornton 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
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Indirect Tax Advisory & Compliance
Our Indirect Tax team helps businesses manage their IOM, UK and global indirect tax risks which, as transactional taxes, can quickly become large liabilities.
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International Tax
We work closely with our colleagues globally to provide a seamless multi-jurisdiction service offering which ensures clients have an appropriate tax structure that mirrors what they are doing operationally – a key consideration in a world where it is no longer possible to separate a company’s tax and operational presences.
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Private Client
Our team of experienced advisors can assist and navigate you through the tax issues arising when establishing a business, moving to the Island, leaving the island, passing on wealth alongside residence and domicile issues. We can help minimise the impact that taxes, such as income tax, capital gains tax and inheritance tax, may have upon your personal wealth.
The Isle of Man operates within a Customs Union with the United Kingdom, meaning its VAT rules are closely aligned with those of the UK. VAT in the Isle of Man is reported and paid to Isle of Man Customs and Excise rather than HMRC, and the island has not implemented the UK’s ‘Making Tax Digital’ requirements. Additionally, there are some variations in VAT rates and practices that businesses need to consider.
Navigating the complexities of indirect taxes can be daunting, but indirect tax specialists understand the challenges you face. That’s why we provide clear, practical advice tailored to help you and your business. From VAT compliance and recoverability calculations to resolving disputes and optimising VAT recovery in financial services, our comprehensive services ensure your business stays compliant. We can streamline your indirect tax processes so you can focus on growth and success.
Value Added Tax is a crucial consideration for many businesses, and efficient management is essential to ensure compliance, optimize cash flow, and avoid penalties. Without proper planning, VAT can become a direct cost to your business. At Grant Thornton, we help you understand your obligations, assess VAT risks, and develop strategies for effective VAT recovery.
Our VAT advisory team offers a full suite of services, from registration and compliance to strategic planning. With extensive experience across key Isle of Man sectors—including property, aviation, and e-gaming—we are well-equipped to support your business with expert, tailored advice.
Completing VAT returns can be complicated, particularly if you have business that is partially exempt or engaged in some other sort of VAT scheme. Grant Thornton can use our expertise to help complete your returns and ensure you are remaining compliant
VAT can be a 20% additional cost to a transaction or project. Getting the VAT treatment of a transaction wrong can turn a profitable project into a nightmare. Grant Thornton can help you understand any unforeseen VAT liabilities and maximise VAT recovery before embarking on a new business venture.
Getting an enquiry into your VAT returns from Isle of Man Customs and Excise can be an intimidating experience. If you have received an enquiry and would like someone to help you prepare for their visit, contact us.
Why Grant Thornton
Our team helps businesses manage their IOM, UK and global indirect tax risks which, as transactional taxes, can quickly become large liabilities. Our approach and advice is clear, commercial, pragmatic and practical which enables the indirect tax position to be understood and the tax risk managed.
Businesses should also seek to improve their cash flow and find efficiencies through improved processes, systems and controls. From the outset, our team will seek to understand the issues and then identify the best solution for your needs.
