R&D tax credit

Since its introduction in 2004, the R&D credit has been instrumental in attracting foreign direct investment to Ireland and stimulating growth within indigenous Irish companies.

We have a dedicated R&D team with extensive experience in working with companies across a wide range of industries, in both maximising R&D tax credit claims and embedding an R&D tax credit methodology within the client organisation to minimise risk under a Revenue audit.

Potential issues

The R&D credit is going through a period of continuous evolution driven primarily by changes in legislation and Revenue practice. This means that companies will constantly need to keep up-to-date with the latest developments. Some of the questions you might need to consider include:

  • Do you have the right technical documentation in place to support the R&D activities in your claim?
  • Are you aware of the new restrictions imposed in the latest Revenue guidelines regarding ancillary costs which can be included in your claim?
  • Do you have sufficient process controls in place to identify and track the underlying R&D activities and associated costs?
  • Are you maximising the significance of your R&D tax credit in terms of the activities being included?

How can we help?

Given the strategic importance of the R&D credit for businesses and its increasing relevance in terms of the financial results, we can work with you to maximise the potential benefits while managing the associated risks.

Supporting documentation
We can help you prepare documents needed to meet Revenue standards and to make sure your claim is supported in the event of an audit.

R&D methodology
We will help you develop internal controls to track and document the underlying R&D activities, together with the associated costs, to streamline the annual claims process. Our aim is to maximise your credit, minimise the risk and minimise the input of your R&D staff.

Global network
We also have a global network of R&D professionals, located in more than 30 countries, who can help you develop a sound global R&D tax strategy and maximise the cross-territory reliefs available.

Audit assistance
The R&D credit has been identified as a key risk area for Revenue and one in which they have increased their level of audit activity. We will provide you with support in the preparation for and duration of a Revenue audit such that a suitable ‘defence file’ is in place to stand up to Revenue scrutiny.

Maximisation of credit
We can help you identify the qualifying R&D activities and costs for your business to ensure that the credit is being maximised while also ensuring compliance with current Revenue expectations.