FAQs
We know that the R&D legislation can be daunting,
so we've put together a quick guide to some of the most frequently asked questions.
R&D Tax Credits were introduced by the Irish Government in 2004 to stimulate business innovation. The R&D Tax Credit incentive allows companies that carry out development of innovative products, processes, and services to claim back costs as a corporation tax credit.
Many companies don’t realise how much of what they do within their day-to-day activities actually qualifies as R&D. We help our clients to identify all qualifying activities that can be claimed for. We also help our clients to evolve by developing tailored R&D strategies that fulfil business objectives, ensuring future R&D activities and all associated expenditure is fully optimised.
Our proven track record, methodologies and robust processes have been developed to enable our expert team to work with you every step of the way. This includes writing your full comprehensive Revenue compliant technical report.
You have one year from the end of your accounting period to submit a research and development (R&D) tax credit claim for any qualifying activities and associated expenditure during this period. R&D Tax Credits are a corporation tax relief.
If a claim hasn’t previously been made by the company or they haven’t claimed the credit in the last 3 years, Revenue require pre-notification in writing at least 90 days prior to R&D tax credit claim submission.
Registered companies subject to corporation tax are eligible to claim. Revenue allows 30% of qualifying costs to be claimed.
However, it’s very likely that you are potentially undertaking much more in the way of qualifying activities for this purpose than you think; so contact us today to arrange a free and no-obligation consultation.
If your company has incurred expenditure (including time & salaries) developing new products, processes or services, or if you’ve made enhancements to existing products, processes or services, you will probably be eligible for R&D tax benefit. By using our proven process to achieve a successful outcome, Momentum will prepare your claim ready for submission to the Revenue.
In the event that the Revenue review an R&D Tax Credits claim, Momentum has a fully qualified team, internal compliance officers and professional advisers, to respond to any queries arising.
Unlike many others, Momentum doesn’t view your R&D as a mere tax-mitigation exercise. We know that the R&D Tax Credits initiative offers businesses an opportunity to grow and to realise their potential. And with thousands of claims under our belt, we make a real difference where it’s needed most.
Our long-established business advancement team stands behind every application we prepare.
Our professional services fees are based on a percentage of the overall benefit we secure for you, so you’ll always be better off with no financial risk of upfront fees etc. and ensuring that you will not be left out of pocket!
What can you achieve with R&D Tax Credits? Get in touch today to speak to one of our experts.
