Manufacturing NI’s Year of Success with The Momentum Group
In August of this year, Manufacturing Northern Ireland announced its partnership with The Momentum Group, the multi-award-winning R&D Tax Credit advisory firm based in Bangor. With reports indicating that manufacturing represents 14% of the total economic output, this partnership marks a significant opportunity for the manufacturing industry.
Statistics published in 2018 revealed that the UK manufacturing industry benefitted by £990m from UK Government’s R&D Tax Credit Fund. The manufacturing industry remains the highest benefiting sector. It has received over £300m more than information and communication companies. Although this is a significant amount, Northern Ireland businesses are still falling behind other regions, with London having the greatest number of claims.
Many manufacturing companies are waking up to the benefits of R&D Tax Credits, yet the potential remains far greater. R&D Tax Credits are especially important in manufacturing as every action completed on a daily basis is designed around R&D activity. As a result, the manufacturing industry can produce new products efficiently with a higher output rate. Therefore, it can solve problems for customers and improving business.
Throughout 2019 Momentum are determined to continue leading the way in R&D Tax Credits and striving for claims success within the manufacturing industry. This will ensure companies claim what they are entitled to. With over 800 claims completed, achieving a success rate of 100% and securing over £125m R&D tax relief, this partnership acknowledges Momentum’s integrity within the sector - a great indication to the unique and proven process.
Through helping companies avail of this UK government incentive, the expert team of chartered accountants, business, commercial and ex-HMRC technical experts support the potential for innovation within the manufacturing sector. Momentum prides itself on providing expert knowledge and support throughout the claiming process including in areas such as investment in understanding and optimising R&D expenditure.
To ensure you avail correctly of the benefits it is essential to have specialist advice, which manufacturing companies in Northern Ireland can secure through working with Momentum.
To find out more visitwww.momentumgroupni.com or contact us on 028 9140 4030 for a confidential no obligation review.