Business

EEF deal will help manufacturers with R&D tax credits

Manufacturers in Northern Ireland could find it easier to access R&D tax credits as a result of the EEF deal with Jumpstart
Manufacturers in Northern Ireland could find it easier to access R&D tax credits as a result of the EEF deal with Jumpstart Manufacturers in Northern Ireland could find it easier to access R&D tax credits as a result of the EEF deal with Jumpstart

MANUFACTURERS’ organisation EEF has agreed a deal with tax relief specialist Jumpstart in a bid to boost take-up and claims of R&D tax credits

The move will see Jumpstart providing expert advice to EEF members to ensure they secure their full entitlement of R&D tax relief, as well as guidance to those companies seeking to apply for the credit for the first time.

The partnership and advice will benefit all sizes of business - from FTSE 100 companies with complex R&D programmes, through to SMEs simply requiring support with the claim process.

Jumpstart - which has helped its clients recover almost £92m in R&D tax relief and has identified £467m in eligible R&D expenditure - will be named as an official EEF Advantages partner, joining EEF’s scheme of third party providers carefully selected to help its members save money and grow their businesses.

Having played a leading role in campaigning for the introduction of the R&D Tax Credit, EEF is keen to ensure that manufacturers benefit from their full entitlement.

Last year UK manufacturing firms benefited to the tune of £770 million through the tax credit scheme.

But EEF is concerned that a significant number of companies are either not taking advantage of the scheme at all, or are not maximising their value.

Charles Garfit of EEF said: “Our role is to support manufacturers and help them realise their growth ambitions in an ever more competitive environment. Investing in R&D is vital to attempts by manufacturers to do just that by increasing their innovation performance and productivity.”

Ian Wolfendale, business development manager for Jumpstart in Northern Ireland, said: “Building on our significant strength in the engineering and manufacturing sectors, we welcome this opportunity to contribute to the developing dialogue on innovation and we look forward to supporting both large and small companies submit robust claims for tax relief.”