Sumer NI Manager Talks About R&D Tax Credits in Northern Ireland

Concerns Over R&D Tax Credit Uptake: Phil Chambers from Sumer NI has raised alarms about the significant drop in R&D tax credit claims in Northern Ireland, with only 1,305 claims in the 2023/24 tax year, a 22% decrease from the previous year.

Potential for Growth with New Investments: Despite the low claims, upcoming investments like the £100m Advanced Manufacturing Innovation Centre (AMIC) could encourage more companies to apply for R&D tax credits, which are crucial for fostering innovation and growth in the region.