A new R&D Discussion Group was established with representation from senior officers in Revenue and the representative bodies including the CCAB-I. The purpose of the Group is to act as a dedicated forum for Revenue, taxpayers and representative bodies to raise and address issues affecting the operation of the R&D tax credit.

The new Discussion Group aims to bring clarity and greater certainty to the operation of the R&D tax credit. A key outcome of the inaugural meeting was recognition of the fact that up to date and industry specific guidance is needed to ensure that these reliefs continue to encourage and support FDI investment and growth in the SME sector.

Details of updates to the practical operation of the R&D tax credit will be published in tax.point over the coming months.