- Irish R&D Tax Credit
- Irish RD&I Grant
- UK R&D Tax Relief & RDEC
- Industries We Service
- About Us
- Recent News
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.
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.
There is a misconception that Research and Development can only take place when you have a dedicated team and/or lab facility – the idea of “men/women in white lab coats”. In reality, many of the companies that are taking advantage of the programme have qualifying R&D expenditure because a portion of their operations is dedicated to innovation. The expenditure used to enhance, improve and/or advance a product or service could be claimable – even if the project was not successful.
Expenditures can include wages, third-party contractor cost (contractor performing R&D in European Economic Area (EEA)), materials, machinery, equipment, and overheads. The credit is claimed on qualifying expenditure in respect to the amount spent on R&D activities in the fiscal accounting year.
The credit is available to Irish-based companies for R&D activities carried out in a wide variety of science and technology areas such as information technology development, engineering, medical devices, pharmaceuticals, agriculture, and food processing.
Yes, the opportunity expires 12 months from the end of your fiscal year. So for example, if your year-end is December 31 you have until December 31, 2020, to submit a claim for your 2019 fiscal year. Braithwaite recommends not waiting to file before the deadline. Aim to file your claim with your CT1 and not as an amendment.Ireland
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.