Trade body in link-up with tax firm to help businesses achieve optimum benefits
TRADE body Manufacturing Northern Ireland has announced it’s made a tax credit advisory firm its exclusive partner.
The Momentum Group in Bangor will be able to advise members of Manufacturing NI on how it can use tax credits.
Manufacturing efforts by around 5,800 firms account for around 13% of total economic output in Northern Ireland.
Momentum’s group managing director Tom Verner said: “We are delighted to be partnering with Manufacturing NI. This partnership marks an exciting time for us.
“One of the biggest challenges with Northern Ireland businesses claiming their full R&D tax entitlement, is that many believe R&D Tax Credits are only available for traditional research sectors and ‘white coat’ industries.
“This partnership will allow Momentum to work hard with manufacturing companies across Northern Ireland to ensure they achieve their optimum benefit.”
Manufacturing NI chief exec-
utive Stephen Kelly added: “The Government’s R&D Tax Credit scheme is there to support that process and more companies should be using this opportunity to improve their business and their processes.
“Treasury have set the money aside and want businesses to claim these significant tax savings to reinvest back into businesses.
“Having the right technical and accountancy advice is important so we hope that working with the Momentum Group, firms can easily navigate the process.”