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New rules where R&D grant provided

Bernard Doherty Bernard Doherty

Revenue have confirmed that with an eye on minimising the burden of engaging experts to verify the science test in R&D tax credit claims, that they would not, as a rule, seek to challenge the science test in relation to a project where:

  • an Enterprise Ireland or IDA R&D grant has been approved in respect of the R&D project;
  • the project is undertaken in a prescribed field of science or technology;
  • the company is a micro or small enterprise; and
  • the total R&D tax credit claimed by the company for an accounting period (of not less than 12 months) is €50,000 or less (200k spend).

This is positive news for many small or micro enterprises who may have found it onerous to prepare the additional paperwork required to support their R&D tax credit claim in the past.