Features of the Irish R&D Tax Credit Regime

Companies are entitled to a credit of 25% of the incremental R&D expenditure incurred for periods commencing on or after 1 January 2015. 

The credit can be used to:

  • Reduce the company’s corporation tax liability of the period
  • Reduce the corporation tax liability of the previous year, or
  • If unused, the credit can be refunded by the tax authorities subject to certain restrictions.

The credit is in addition to the normal corporation tax deduction for the expenditure.

The claim must be made within one year of the end of the accounting period in which the expenditure has been incurred.

R&D Tax Credits and your industry

The benefits of R&D tax credits are available across all industries, including:

  • Manufacturing
  • Technology, software, gaming, hardware
  • Financial services
  • Medical device manufacture, biosciences, pharmaceuticals
  • Plastics, chemicals
  • Food production, processing, agribusiness, 
  • Forest products, pulp and paper
  • Mining, oil and gas
  • Construction materials

Do you have an R&D related query?

If you would like to request more information on R&D tax credits or information on how we can assist your company, please contact us here.