MOMENTUM
Momentum Building with £ 200k investment by R & D Tax Credit specialists
orthern Ireland’ s leading R & D tax credit specialist company, the
NMomentum Group, has expanded its operations with a £ 200,000 investment following an impressive surge in growth.
The awardwinning company has experienced strong results with overall turnover up 146 per cent in the past year and 700 per cent over the past two years
This has been fuelled by a number of new contract wins with companies in sectors including manufacturing and engineering, construction and technology, growing its overall client base by 92 per cent during 2016 alone.
Bangorbased Momentum works with clients to identify qualifying activities and expenditure that are eligible for R & D Tax Credits and secures tax relief for businesses that meet HMRC’ s stringent criteria for claims.
Despite punching well above its weight in leading innovation, Northern Ireland is one of the lowest claiming regions in the UK for R & D Tax Credits.
Working hard to change this tide, the company has to date secured more than
64 www. businessfirstonline. co. uk
£ 90m in enhanced R & D Tax Credits for clients in virtually every business sector, from aerospace and defence to health and beauty, both locally and throughout the UK.
Founded in 2009 by Managing Director Tom Verner, Momentum has recently expanded its 11strong team of R & D Tax Credit specialists and is continuing a recruitment drive. This growth includes three senior appointments in the past year, adding over 60 years of expertise to the specialist team.
To accommodate the expansion, the company has invested significantly and tripled its office space at Momentum House in Bangor.
This investment reaffirms Momentum’ s steady growth over the past eight years and its position as Northern Ireland’ s leading R & D tax credit specialist company.
Momentum Managing Director and Founder Tom Verner said,“ Over the past few years, Momentum has gained significant credibility within the marketplace.
New contracts with major, wellknown companies and successes with existing clients have contributed to another strong year of trading which has led to us making a significant investment in new specialist staff and top of the range office space.
“ As the only company in Northern Ireland specialising solely in R & D tax credits and with our proven methodology of doing 90 per cent of the work for our clients for just 10 per cent of their time, our client base continues to grow on a weekly basis.
“ We understand our clients are very busy and our 9010 principle has led to a steady increase in referrals from banks, accountants and financial institutions who realise the benefits of our specialist expertise.
“ Momentum’ s aim is to help the huge number of companies out there who are either not claiming at all or are not claiming their full tax relief on their R & D activities and in doing so, grow their business and have a positive impact on the overall economy,” he added.