Mine of millions in unclaimed tax credits

The mineral products sector in Northern Ireland could be sitting on a mine of millions of pounds of unclaimed R&D tax credits.
By The Newsroom
Published 29th Jul 2019, 16:00 BST
Tom Verner, Founder and Managing Director of Momentum Group, Gordon Best, Director of MPANI, Simon Huntley, Business Development Director at Momentum Group and Ron Gibson, Director of Operations at Momentum GroupTom Verner, Founder and Managing Director of Momentum Group, Gordon Best, Director of MPANI, Simon Huntley, Business Development Director at Momentum Group and Ron Gibson, Director of Operations at Momentum Group
Tom Verner, Founder and Managing Director of Momentum Group, Gordon Best, Director of MPANI, Simon Huntley, Business Development Director at Momentum Group and Ron Gibson, Director of Operations at Momentum Group

That is the message from the Mineral Product Association of Northern Ireland (MPANI), the organisation which represents 95% of the industry in Northern Ireland.

Gordon Best, Director of MPANI, said that most companies within the sector will find some of the processes they are already carrying out are eligible for research and development (R&D) Tax Credits.

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He said: “R&D was something which was off the industry’s radar but there is innovation going on every day. Since the EU referendum in 2016, the UK Government has increasingly placed greater emphasis on R&D as they want to see companies innovate and it is an area we’re very supportive of.”

Tom Verner, Founder and Managing Director of Momentum Group, continued: “Working with quarrying and construction companies, we have found a lot of innovation taking place – innovation they didn’t even realised existed. Many finance directors believe what they are doing is standard and routine but in fact they are being extremely innovative by developing better products, processes or services through a host of different ways. We would encourage all firms within the sector not to disregard the potential of claiming for R&D Tax Credits, to which they are entitled.”

Gordon Best added: “The Momentum team have been working with many of our members and the results have been incredible. It’s clear they are experts in their field and know what qualifies for R&D Tax Credits and what doesn’t. Other less experienced firms will come into your business and turn over every stone; Momentum will not only turn over but crack open every stone to find all eligible expenditure and fully optimise your claim. And crucially, they do the hard work, leaving you to get on with doing what you do best: developing your business.”

Momentum is an award-winning R&D Tax Advisory firm with a proven track record in achieving 100% success in R&D Tax Credit claims.

Related topics:Northern IrelandUK GovernmentTax Credits