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

R&D tax credit: science test

Revenue has issued guidance stating that it will not seek to challenge a claim for the R&D tax credit under the science test in the following situations:

  • Where an IDA or Enterprise Ireland R&D grant has been approved for the project;
  • The amount of the R&D tax credit claimed for an accounting period of not less than 12 months is €50,000 or less;
  • The company is a micro or small sized enterprise; and
  • The project is undertaken in a qualifying scientific or technological field.

Revenue has taken the above position in order to minimise the burden of engaging experts to verify the science test in R&D. Small companies should be encouraged to submit R&D credit claims. Revenue eBrief No. 17/2017 (on here) contains further details and the Revenue Tax & Duty Manual has been updated to reflect this positon.