R&D Tax Credits enable companies that incur costs in developing new products, processes, software or services to receive a cash payment or corporation tax deduction from Revenue - Irish Tax & Customs. The R&D Tax Credits incentive is designed to encourage innovation and increase spending on R&D activities for companies operating in Ireland.

The R&D Tax Credit is worth 25% of qualifying expenditure and is initially offset against the current period's CT liability. Any remaining tax credit can be carried back one year or paid out in 3 instalments after being offset against future CT liabilities.  Eligible expenditure includes staff costs, agency workers, individual consultants, sub-contractors, and consumable items.

By profiting from our specialist knowledge and experience, you can be sure of maximising your R&D tax credits claim. Myriad can handle your R&D tax credit claim from start to finish so that you only need to invest just a few hours into the process. As a rule, Myriad submits R&D tax claims up to three times higher than in-house prepared claims and those filed by generalist accountants.