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Renewable Energy R&D Tax Credits 18 September 2014. Brian Thornton Partner KPMG. Agenda. What is the R&D tax credit? Key technical requirements Eligible expenditure & finance. What is the R&D Tax Credit?. What is the R&D tax credit?. €25 credit / cash for every incremental €100 spent.

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Renewable energy r d tax credits 18 september 2014
Renewable EnergyR&D Tax Credits18 September 2014

  • Brian Thornton

  • Partner

  • KPMG


Agenda
Agenda

What is the R&D tax credit?

Key technical requirements

Eligible expenditure & finance



What is the r d tax credit1
What is the R&D tax credit?

€25 credit / cash for every

incremental€100 spent


What is the r d t ax credit
What is the R&D tax credit?

The credit incentivises companies to

invest in Ireland and

increase R&D spend

in the Irish economy.

The credit encourages companies to create new jobs in Ireland.

The credit rewards companies being innovative.

The R&D tax credit is key in Ireland’s economic growth policy.



Qualifying activities
Qualifying Activities

  • 5 Key Requirements

  • Basic research

  • Applied research

  • Experimental development

Systematic, investigative or experimental activities

Revenue approved field of science or technology

Involve the resolution of scientific or technological uncertainty

  • Seek to achieve scientific or technological advancement



Eligible expenditure
Eligible expenditure

Pension

VHI

Share options


Eligible expenditure1
Eligible expenditure

  • Other eligible expenditure?

  • Outsourced expenditure to third parties and universities to carry on R&D


Claiming the r d tax credit
Claiming the R&D tax credit

The R&D tax credit must be claimed

within 12 months of the financial year end!


Claim calculation
Claim calculation

Sample calculation:


Take home points
Take Home Points:

Worthwhile credit - €25 rebate for every €100 spent

Must be claimed within 1 year

Significant documentation requirements – the price to be paid!

Important to seek advice early



Thank you
Thank You

Brian Thornton

091 534634

[email protected]


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