R&D Tax Credit
How to access the Research and Development (R&D) tax credit
The research and development (R&D) tax credit is a powerful tool that can help your business grow and thrive. But, what exactly is it? The R&D Tax Credit is a strategic initiative by the Irish government, offering companies a 25% tax credit (increasing to 30% in 2024) on qualifying research and development expenditures. Designed to spur innovation, this incentive is open to all companies in Ireland who carry our qualifying R & D, encompassing costs from staff salaries to materials, equipment and some external contractor costs. By prioritising and rewarding systematic, investigative R&D efforts, this credit underscores Ireland’s commitment to fostering scientific and technological advancements.
What types of businesses qualify for the R&D tax credit?
The R&D Tax Credit is a strategic initiative by the Irish government, offering companies a 25% tax credit (increasing to 30% in 2024) on qualifying research and development expenditures. Designed to spur innovation, this incentive is open to all companies in Ireland who carry our qualifying R & D, encompassing costs from staff salaries to materials, equipment and some external contractor costs. By prioritising and rewarding systematic, investigative R&D efforts, this credit underscores Ireland’s commitment to fostering scientific and technological advancements.
How businesses can benefit from R&D tax credit
Financial relief
Receive a 25% tax credit on qualifying R&D expenditures, reducing overall research costs (increasing to 30% in 2024).
Cash refunds
For companies without a corporation tax bill, the credit can translate into a cash refund spread over three years.
Enhanced innovation
With reduced financial burdens, businesses can invest more in ground-breaking research and technological advancements.
Broad expenditure coverage
The credit covers a wide range of costs, from staff salaries to materials and equipment.
Competitive edge
The incentive encourages continuous R&D, propelling businesses to the forefront of their industries.
Facilitated research growth
Encourages companies to expand their research scope and capabilities, fostering an environment of innovation and advancement.
How The Agile Executive can help you access the R&D tax credit
Expert guidance
Navigate the intricacies of the tax credit with our specialised knowledge, ensuring maximum claim potential.
Application assistance:
We streamline the application process, crafting compelling submissions that meet all criteria.
Financial strategy
Our team aids in presenting a robust financial outline, highlighting your R&D expenditures effectively.
Documentation support
Ensure all necessary records are maintained and collated, ready for validation by the Revenue Commissioners.
Post-application follow-up
We stand by you, addressing any subsequent queries and ensuring compliance with post-funding conditions.
Would you like more information?
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