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With more than 25 years of R&D experience and unrivalled tax and technical expertise, Leyton Ireland is ideally positioned to unlock potential value within your business. The benefit received can be reinvested in accelerating current or upcoming projects, used to hire new staff or support your overall growth.
The R&D Tax Credit scheme is strategically crafted to foster innovation and stimulate increased investment in research and development endeavors for businesses operating within Ireland.
Currently, the R&D tax credit rate stands at 25% of eligible expenses, effectively reducing a company’s liability for Corporation Tax (CT). The exciting news is that, the R&D Tax Credits will be elevated to a 30% rate for all eligible businesses.
Surprisingly, numerous enterprises remain unaware of their eligibility for R&D Tax Credits, or they fail to claim the full extent of their entitlement. Notably, in 2018, the Irish government provided substantial support to businesses, offering a total of €475 million in R&D tax credit funding.
If your company is embarking on a journey of innovation, enhancement, or the development of processes, products, or services, it is highly probable that you are eligible for R&D tax credits.
A practical litmus test to establish the eligibility of your undertaken work for R&D credits is to consider whether your project team encountered uncertainties at the project’s inception. In essence, this implies that your team initiated the project without a definitive assurance of achieving a particular outcome.
If you can provide evidence that your project extends beyond the mere application of existing technologies and involves genuine innovation, you may well meet the criteria for making a successful claim.
Our Teams Help Improve Your Business Performance
Consultancy team introduction and key claim stakeholder identification. Basic R&D eligibility assessment and delivery timeline agreed.
Introduction to expenditure categories, R&D project expenditure data provision, financial document provision.
Review and discussion of all eligible projects, selection of key project(s) for claim substantiation (case study).
Introduction to expenditure categories, R&D project expenditure data provision, financial document provision.
Compilation of technical and financial documentation, internal quality audit and resolution of queries.
Final documentation sign-off, tax benefit option agreement, detailed submission guidance and additional submission support.
Does your business look for innovative solutions to manufacturing challenges?
The engineering sector is constantly working to solve complex problems and improve existing systems.
Are you maximising your claims potential of your innovation?
Agricultural businesses are not claiming to their full potential? Don’t let your business be one of them!
Are you finding innovative solutions to construction challenges?
A large number of software businesses are eligible for R&D Tax Credits. Is your business one of them?
Our highly experienced in-house teams constantly monitor market development and government funding opportunities to provide the most up-to date cost saving solutions. We offer support around a number of other government schemes including:
We support businesses in winning innovation funding through Irish and European grants.
Leyton, a recognized industry leader with over 25 years of experience, is well-versed in the realm of R&D tax credit claims. These claims undergo scrutiny and processing by the Revenue authority, and you have a 12-month window after the close of the accounting period to make an R&D tax credit claim.
While it’s not legally mandated, it’s in your best interest to consider producing an R&D tax claim report, specifically tailored to your unique circumstances. This report should comprehensively justify the technical advancements and uncertainties encountered during your projects, as well as outline the eligible expenses claimed on a project-by-project basis.
To optimize the value of your R&D claim, we strongly recommend consulting with an R&D tax specialist. This step ensures that you’re not leaving potential credits unclaimed. Notably, in the past, Leyton has excelled in their role by tripling the value of claims for businesses that had previously attempted to handle their claims internally.
Contact our Experts
Leyton’s technical expertise can help identify latent opportunities and simplify the complex claims process.
