Research & Development Tax Credits Overview
Did you know the R&D tax credit regime in Ireland can be a significant source of tax savings for your business?
The Irish research and development (R&D) tax credit regime provides a 25% credit for qualifying expenditure on qualifying activities. This means that companies can now obtain an effective tax deduction of up to 37.5% with the possibility of the value of the R&D tax credit being refunded where there is not a sufficient level of taxable profits within the company/group.
Consider how much money your business spends when trying to develop or improve its products or processes.
Now imagine you could reduce that by 25%.
Yet, many companies are not actually aware that they are carrying out activities that may qualify for the lucrative relief of R&D tax credits. R&D activities are not limited to those that occur in a traditional research lab. In fact most claims are for experimental development which often takes place right on the factory or shop floor.
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 complete the below contact form and tell us about your company's research and development activities.
Do you want to explore other R&D related incentives?
Research, Development & Innovation Grant
Knowledge Development Box