What is the R&D Tax Credit Programme? An opportunity to return 25% of your Research and Development expenditure in a tax credit or as a cash refund. The R&D Tax Credit Programme was introduced in 2004 to encourage Irish-based companies to perform R&D and to promote investment in innovation. What type of R&D activities are…
Where a company is satisfied that it can comply with the requirements, a claim to relief may be made by completing the Research and Development section of the CT1 form. Any claim under s.766 must be made within 12 months of the end of the accounting period in which the expenditure on R&D giving rise…
Braithwaite recommends preparing the technical and financial costing information before an R&D claim is submitted to Revenue. When a claim is submitted, it is Revenue’s process to review the claim internally, which may result in request(s) for additional supporting information and/or an onsite audit. Taking a proactive approach in preparing the technical and financial costing…
Deadlines The R&D claim must be submitted no later than 12 months from the end of the accounting period to claim the R&D expenditure in that particular fiscal year period. For example, if an applicant has a December year end in 2016, the statutory filing deadline for the fiscal year 2016 is December 31, 2017.…
The guidelines provide a definition of the basic requirements for qualification in section 2.1 with criteria that the company must meet and conditions that the qualifying activities must satisfy, however the success of a claim is in the small print and whilst a company could have the next groundbreaking product, improper documentation or an inaccurate…