Helping Your Company Fund Innovation with R&D Tax Credits in Ireland
Ireland’s R&D tax credit has led to a significant boost in innovation and business investment in the region. Available to both local and international companies, reports reveal that multinational companies have taken maximum advantage of these incentives. RDP Associates Inc. (RDP) has been assisting companies of all sizes access R&D incentives to fund their new product development initiatives for years. Extensive experience with R&D credits in the UK and a seamless claim process helps our clients tap into all applicable benefits including the recently introduced Knowledge Development Box (KDB) revenue.
The time and effort involved in navigating the maze of R&D tax credits in Ireland often prevents companies from accessing government incentives for businesses. RDP’s experienced tax credit consultants take the pain out of the process while aiming to maximise your returns. We leave no stone unturned in finding you financial resources to innovate. A quick consultation about tax credits or Knowledge Development Box is all it takes to get started. We will ensure that your R&D claims are maximised and fully compliant with Revenue requirements.
Maximise Returns with Expert Assistance from RDP’s Tax Credit Consultants
The R&D tax credit is available to all businesses in Ireland that invest in research and development activities. Over €550m is claimed annually by 1,600 companies.
We have outlined some important information about R&D claims below:
- You can claim 25% of all qualifying R&D expenditure
- Revenue has strict guidelines defining qualifying R&D activities and expenditure
- Credit is offset against corporation tax liability, with direct payments from Revenue for any excess
- Claims must be made within 12 months of the end of the accounting period in which the R&D expense was incurred
Make Government Grants Part of Your Annual Funding Strategy
Government grants provide funding for prospective projects (and objectives) and should be part of a company's annual strategic initiatives. Examples of areas where RDP assists companies in obtaining government grants include:
- Research and development
- Export and marketing
- Youth employment
- Education and research
- Ocean energy
Many companies that claim government grants on their own get less than half of what they are entitled to receive. RDP maximises your R&D claim while minimising disruption to your ongoing activities. Your technical staff can continue doing what they do best, while we focus on Revenue’s complicated eligibility criteria and optimise your returns.
Schedule a Knowledge Development Box Consultation to Tap into More Government Funding
The KDB came into effect in Ireland from January 2016 and provides for an effective 6.25% corporate tax rate on profits generated from the sale or exploitation of qualifying intellectual Property (IP).
The core qualifying criteria are:
- R&D activity is undertaken in Ireland
- This R&D activity results in a patent, copyrighted software or IP equivalent to a patentable invention
- The company generates income from this IP
The KDB qualifying criteria make it particularly valuable to companies in the SME sector, who are undertaking R&D activity in Ireland.
RDP can assist you in your efforts to identify all your qualifying IP. Since we work in this area every day, we keep abreast of changes and new programs as well as maintain a database of government contacts. Our expert team of R&D engineers and tax credit consultants will help you ensure that KDB claims are maximised and all qualifying criteria are met.
Contact Us to schedule an appointment for a Free Assessment.
Contact us to schedule an appointment for a Free Assessment. We can help determine your eligibility for tax credits and grants and share more information about innovation funding.Contact Us