Whether you are already claiming the R&D tax credit or just considering your eligibility, it is essential to remember that R&D does not just happen in the laboratory – quite often it is the work a company would consider to be a day-to-day activity: developing a new product; devising or making improvements to a production process; trying out a new material to reduce costs. The list is extensive, and with a potential saving of up to 25% of qualifying expenditure, it is worth checking if your activities meet the criteria.

What is the research and development (“R&D”) tax credit?

25% tax credit for every euro incurred
12 months to claim from end of relevant accounting period

What expenditure qualifies for the credit?

R&D staffing costs
Raw materials and consumables; subcontracted R&D; power; plant and machinery; buildings

Are you doing R&D?

Generating new knowledge; overcoming technological challenges;developing technological solutions

Revenue audits

Revenue generally has 4 years from the end of the year in which the claim is made to commence an audit

Do you have an R&D-related query?

Contact us. If you would like to request an R&D tax credits brochure, require information on how we can assist your company, or would like us to call you directly to discuss your particular circumstances, please email us at info@kpmg.ie.

We will endeavour to respond to your initial query within two working days.

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