
Research and development (R&D) projects in a company can cost a lot of money. Nevertheless, R&D is still an important and indispensable process to ensure that you keep delivering valuable products and services to your clients.
Fortunately, Revenue provides a tax benefit for Irish companies who give value to research and development. This entitlement is known as an R&D tax credit.
Why apply for an R&D tax credit?
An R&D tax credit provides plenty of benefits to all businesses. And yet, not a lot of business owners are utilising it.
Here are some of the top reasons why you need to apply for an R&D tax credit:
- Maximise the efficiency of your cashflow
- Lessen the amount of money you pay for your personal income tax
- Reduce the tax rate of your business
What type of businesses can qualify for R&D tax credits?
While Revenue accepts tax credit application from any size of business, at the moment, they only entertain businesses under the science and technology category. Companies who provide services in line with social sciences, arts and humanities and pure math may not get approved if you apply for the incentive.
Take note that Revenue approves R&D tax credit claims …


