Are we eligible to claim?

Are we eligible to claim?

Are you an incorporated company? If so, is the company within the charge to Irish corporation tax?

If the answer to both these questions is yes, then there is potential to claim the R&D Tax Credit provided R&D activities as defined for tax purposes have been carried out.

The definition of R&D activities set out in the tax legislation is as follows:

“Research and Development activities” means systematic, investigative or experimental activities in a field of science or technology, being one or more of the following:–

  1. basic research, namely, experimental or theoretical work undertaken primarily to acquire new scientific or technical knowledge without a specific practical application in view,
  2. applied research, namely, work undertaken in order to gain scientific or technical knowledge and directed towards a specific practical application, or
  3. experimental development, namely, work undertaken which draws on scientific or technical knowledge or practical experience for the purpose of achieving technological advancement and which is directed at producing new, or improving existing, materials, products, devices, processes, systems or services including incremental improvements thereto:

but activities will not be research and development activities unless they –

  1. seek to achieve scientific or technological advancement, and
  2. involve the resolution of scientific or technological uncertainty;

Understanding this definition and applying it correctly in assessing your activities is key to preparing a successful R&D Tax Credit claim. At SciMet R&D, our team has extensive experience of working with companies across a wide range of industry sectors to assist with the identification of qualifying R&D activities.

 

 

About Us

SciMet R&D is the leading, Irish owned, independent R&D Tax Credit consultancy. The company was founded on a simple principle – to consistently deliver exceptional service and value to R&D performing companies in claiming their full and proper R&D Tax Credit entitlement.

We achieve this by delivering the perfect blend of science, technology, tax and accounting expertise. The R&D Tax Credit is unique in that it combines a science test with an accounting test. SciMet R&D is unique in the Irish market in the value we bring to our clients in meeting both tests.

At SciMet R&D we are truly passionate about science and technology. It motivates us to be able to play a part in the exciting research and development being carried out by our clients.  Our tailor-made R&D Tax Credit services deliver efficiencies, robustness and cost effectiveness that facilitate our clients in doing what they do best – innovate.

Our Address:
Guinness Enterprise Center
Taylor's Lane, Dublin 8, IrelandGuinness Enterprise Centre