A tax credit is available for companies that spend money on research and development and is calculated at 25% of the qualifying expenditure and used to reduce the company’s corporation tax due.
A company may qualify if:
- It’s within the charge of Corporation Tax in Ireland
- It carries out qualifying activities in Ireland, the European Economic Area (EEA), or the United Kingdom (UK)
- Expenditure doesn’t qualify for a tax deduction in another country
The research and development activity must:
- be in the field of science or technology
- involve systemic, investigative or experimental activities
- involve one or more of these categories:
- basic research
- applied research
- experimental development
- seek to make scientific or technological advancement
- involve the resolution of scientific or technological uncertainty.
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