R & D Tax Credit

Research and Development (R&D) Tax Credit

If a company spends money on research and development activities, these activities may qualify for the R&D Tax Credit.

The credit is calculated at 25% of qualifying expenditure and is used to reduce a company’s Corporation Tax (CT).

Where a company has offset current and previous years’ CT liabilities, it may apply for a credit refund payable in installments.

The research and development activity must:

1. involve systemic, investigative or experimental activities
2. be in the field of science or technology
3. involves basic or applied or experimental research
4. seek to make scientific or technological advancement
5. involve the resolution of scientific or technological uncertainty.

Subject to qualifying conditions

Any queries on the above give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie