R&D Tax Credits

A successful R&D claim could generate a significant financial benefit

Getting R&D tax relief right... Every time

Research & Development (R&D) tax credits is an Irish government initiative to reward business innovation and promote growth through generous tax incentives. This is controlled by the Office of the Revenue Commissioners (Revenue). A successful R&D claim could generate a significant financial benefit, leaving you with more to invest in your business.

However, many businesses like yours miss out because they simply don’t realise their activities qualify as Research and Development. Alternatively, if you are already making R&D claims, unless you have fully grasped the nuances of Irish R&D tax legislation, you may be missing out on your full entitlement.

How does R&D apply to your business?

Are you recognised as a market leader in your sector? How do you deal with a customer request to solve a problem within your area of expertise that is challenging you?

Do you regularly find your Company having to innovate to develop appreciably improved processes, materials, devices, products and/or services to solve difficult problems? R&D can still take place whether the outcome is successful or not.

If the answer is yes to either question, there may be a corporation tax benefit available to you.

What costs qualify?

Costs incurred on any qualifying Research & Development activities could qualify for a claim in the relevant tax year. You may claim for expenditure such as:

Staff costs including emoluments.
Materials consumed
Sub-contractors (limits apply)
Software, data & cloud costs

What are the benefits?

From 1^st January 2024 Revenue allow 30% of the costs to be claimed as a corporation tax credit (previously 25%) with 50% of the overall claim value or €50,000 (whichever is the greater) credited against the first year, a further 30% against the following year and the balance 1 year later.

What does the Revenue say?

Revenue guidelines require Irish companies to engage in systematic, investigative or experimental activities, in a field of science or technology, encompassing one or more of the following categories of R&D:

Basic research,
Applied research,
Experimental development.

In addition, they must seek to achieve scientific or technological advancement, and involve the resolution of scientific or technological uncertainty.

*An advance in science or technology means an advance in the overall knowledge or capability in the field of science or technology (not an advance in the company’s own state of knowledge or capability alone).

How can The Momentum Group help you?

R&D tax credits provide very generous benefits to companies engaged in qualifying activities, the difficulty is understanding what does or doesn’t qualify within the Governments’ criteria and that’s where the Momentum Group come in.

At The Momentum Tax Group, we know the R&D tax credit claims process inside out. We’re the trusted consultants in identifying which of your projects and associated expenditure qualify for Research and Development tax relief.

With over 15 years’ experience guiding businesses through the process, our team of Technical Consultants & Chartered Accountants work with you to identify qualifying activities, analyse the associated costs and prepare the technical report and tax computations in support of your claim.

We will manage the highly technical claims process, from discovery conversations, through to writing the report, and analysing your costs, thus taking away the pain and risk of using non-experts in this field. We get boots on the ground - visiting your business, getting to know you and offering you one-to-one guidance throughout your R&D claim journey.

Our process

Identify • Analyse • Optimise

IDENTIFY
With unrivalled experience, our Tax Credit Consultants from a broad spectrum of financial and industry sectors, so we're expertly positioned to uncover activity that is eligible.
ANALYSE
We collaborate closely with you and your team to conduct a thorough analysis of your potential projects and associated costs to ensure you capture the necessary expenditure that HMRC will need to process your R&D tax credit claim.
OPTIMISE
Our professional tax incentive team know exactly what it takes to produce a comprehensive technical R&D report to the exact standards expected by HMRC. Our team go the extra mile to secure you the financial benefit you are legitimately entitled to.

At Momentum, our ethos is built on relationships. We’re not just here for quick wins, we're interested in long term strategic partnerships that deliver real tangible value to your business.

We work closely with you and your accountants to become your trusted R&D tax credit advisor, ensuring that you are compliant and leave no stone unturned, making sure you claim what you're entitled to.

Whether you’re new to R&D tax credits or already making claims, our highly experienced Tax Consultants are here to help and advise you from start to finish. If you are making a claim, why not avail of a second opinion for peace of mind. Reach out to us for a confidential conversation.