TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Amended guidance on the tax treatment of scientific research

Revenue have amended their tax and duty manual on Allowances for Scientific Research to reflect amendments included in the Finance Act 2019.

Revenue states that references to “capital expenditure on scientific research”, within section 765(1) TCA 1997 will not include any expenditure on plant and equipment. Only where expenditure on the construction or development of a building or structure is, in itself, scientific research, will that expenditure be qualifying capital expenditure for the purposes of section 765(1) TCA 1997.

For further details refer to Revenue’s Tax and Duty Manual Part 29-02-01 – Allowances for Scientific Research.