Ireland’s engineering and manufacturing industries are at the forefront of innovation and technology-driven advancements. These sectors contribute significantly to the country’s economic growth and global competitiveness. To encourage continued innovation, the Irish government offers Research and Development (R&D) Tax Credits—a powerful incentive that can help engineering and manufacturing companies thrive. In this blog, we’ll explore how R&D Tax Credits can benefit these industries in Ireland.
The Power of R&D Tax Credits:
R&D Tax Credits are government incentives designed to reward businesses for investing in research and development activities. These credits provide Tax and/or a Cash benefit, allowing companies to recoup a portion of the costs incurred during qualifying R&D projects. For engineering and manufacturing companies in Ireland, these tax credits are a valuable resource to drive growth and stay competitive in the global market.
Qualifying R&D Activities in Engineering and Manufacturing:
Strategies for Maximising R&D Tax Credits:
For engineering and manufacturing companies in Ireland, R&D Tax Credits represent a strategic opportunity to invest in innovation, drive growth, and remain competitive in rapidly evolving industries. By identifying and documenting qualifying activities, collaborating with experts and industry peers, and partnering with specialists like Braithwaite, you can harness the full potential of these tax credits.
If you’re ready to explore how R&D Tax Credits can propel innovation and growth in your engineering or manufacturing business, reach out to Braithwaite today. Our team of experts combine technical and financial knowledge to identify and maximise your innovation and research and development tax credit opportunities across Ireland. Let’s work together to engineer a brighter and more innovative future for your business in Ireland. Afterall, you can get 25% of your expenditure refunded and that is set to increase to 30% in 2025!