Revenue streamlines SME R&D tax credits

The Revenue has issued a new practice note indicating that it will not challenge R&D tax credit claims from SMEs valued under the science test where the claim relates to projects supported by IDA or Enterprise Ireland grants and the value is less than €50,000.

The practice note indicates that the this will reduce Revenue’s need to engage experts to perform such verification it also gives claimants certainty if a claim is audited removing the need for independent verification that the claim meets the definition of R&D as defined by the OECD.

The practice note is available here or below:


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