The Momentum Group is collaborating with Composites UK to support research and development tax credit claims within the industry. Within the composite sector, research and development activities are abundant. R and D tax credits are valuable form of tax relief in the UK, allowing companies the opportunity to further invest and advance product development.
There is a wealth of potential for highly innovative companies within the composite industry to tap into, yet many are not claiming their full legitimate entitlement from this valuable tax relief initiative. This can be for several reasons, a lack of awareness, not understanding which activities and costs qualify for this purpose or incorrectly think they do not qualify. “At Momentum, our purpose is to help innovative composite companies to unlock this potential and as a result, help them to excel,” the company said.The Momentum Group is collaborating with Composites UK to support research and development tax credit claims within the industry. Within the composite sector, research and development activities are abundant. R and D tax credits are valuable form of tax relief in the UK, allowing companies the opportunity to further invest and advance product development.#
Throughout 2019, Momentum will increase awareness of, and continue leading the way in, R and D Tax Credits. “Our approach has always been to apply the highest professional standards to every claim we prepare, resulting in a 100 per cent success rate across more than 800 claims with over £125m in R and D tax relief approved. This partnership acknowledges Momentum’s reliability within the sector - a great indication to the unique and verified process.”
Through helping companies claim what they are entitled to, Momentum’s expert team of chartered accountants, business, commercial and ex-HMRC technical experts support the potential for greater innovation within the sector. Momentum provides specialist knowledge and support throughout the claiming process, including in areas such as investment in understanding and optimising R and D expenditure.
“To ensure you avail correctly of the R and D Tax Credit benefits it is essential to have specialist advice. Therefore, Momentum is calling upon composite organisations in Northern Ireland and across the UK to take action in 2019 and explore this valuable incentive,” it said. (SV)
Fibre2Fashion News Desk – India
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