As Ireland’s leading R&D Incentives Practice, we assist clients in preparing grant applications and then drawing down the amounts approved. We also provide drawdown advice in situations where we may not have been involved in the grant application. Our bespoke process is tailored for each client and has been successful across a wide range of industries.
The Knowledge Development Box (KDB) is aimed at incentivising companies to undertake innovative activities in Ireland by providing an effective corporate tax rate of 6.25% for income generated from commercialising certain intellectual property (“IP”). We help prepare claims for KDB regimes. We can assist with identifying what assets and income that could potentially qualify for the KDB.
We provide the following services to our clients in the following areas of Capital Allowances:
- Wear and tear allowances claims for qualifying plant and machinery (“P&M”) – claimed at 12.5% over 8 years
- Plant and machinery analysis for R&D tax credit claims, Industrial buildings allowances claims – typically claimed at 4% over 25 years
- Energy efficient capital allowances claims – 100% claim in year 1
- Look back claims – potential repayment of tax, Negotiating claims with Revenue.
The credit, which will be available to companies, will be provided in the form of a refundable Corporation Tax credit at a rate of 32% on eligible expenditure. The credit will be applied on a per-project basis.
