R&D Tax Credit

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R&D Tax Credit

The R&D tax credit is a very valuable incentive to encour­age research and develop­ment. Companies performing R&D can benefit from a refund of 25% on their qualifying R&D expenditure.

Identifying all qualifying R&D activities for the R&D tax credit can be challenging for both large and small businesses. This, coupled with the increasing demand for technical reports outlining the basis of the claim and qualification of activities, as well as risk of Revenue audits, mean that the administrative burden on claimants is growing. Revenue scrutiny of claims is increasing, with the number of claim interventions rising from 49 in 2012, to 276 in 2016. This highlights the need for companies to ensure that claims comply with all relevant legislation, from both a technical and financial perspective.

Our Service

Deloitte’s Gi3 team has extensive experience in preparing R&D tax credit claims across a broad variety of industries and successfully defending claims through the Revenue audit process. Our specialist team includes dedicated personnel with financial, engineering and scientific backgrounds who are engaged full time in the provision of R&D tax credit claims.

Each claim process is bespoke to the claimant company, and can depend on many factors such as industry sector, size, resources and existing systems. We work with our clients to prepare robust defendable claims, and ease the burden of the claim process, while continuously implementing best in class methodologies.

As an example, our typical claim process can be seen below:

Based on our extensive experience, Deloitte has developed an approach to the R&D tax credit process that has proven to be non-intrusive to clients while delivering exceptional technical reports and accurate financial information. The benefits we offer include:

Game-changing technology

Based on many years of working closely with Deloitte clients as they identify and claim tax credits and economic incentives around the world, we developed the I Smart technology to power our global research incentive methodology. I Smart is a powerful survey application and database that helps clients to automate the information gathering process associated with qualifying R&D projects. Additionally, it is designed to capture information about certain activities that may qualify for additional grants and incentives.

Tax technical teams

Our tax experts in Ireland deal specifically with Government incentives like R&D tax credit and KDB. We have exposure to hundreds of claims per annum and significant Revenue interaction. This enables us not only to assist clients, but to help revenue to develop and design incentive policy.

Global reach

Gi3 lets you see the broader playing field by identifying incentive opportunities available to your company and standardising your approach and methodologies.

Scientists and engineers

We can assist you by ensuring that all activities that should qualify for R&D tax credits are identified, assessed and documented. Our team is experienced in all sectors, including software (including fintech), biotechnology, pharmaceutical, manufacturing, petrochemical, aerospace, chemical and utilities industries. 

Let’s talk

Meet our specialist team, allow us to discuss your RD&I situation. Our global view, expert team and best in class claim preparation approach may uncover significant areas where we can add value, efficiency, accuracy and robustness to your process.

 

 

Deloitte’s Gi3 team has extensive experience in preparing R&D tax credit claims across a broad variety of industries and successfully defending claims through the Revenue audit process. Our team includes dedicated personnel with financial, engineering and scientific backgrounds who are engaged full time in the provision of R&D tax credit claims.

Based on our extensive experience, Deloitte has developed an approach to the R&D tax credit process that has proven to be non-intrusive to clients while delivering exceptional technical reports and accurate financial information. The benefits we offer include:

Game-changing technology

Deloitte’s I Smart is a survey application and database that helps clients to automate the information gathering process associated with qualifying R&D projects. Additionally, it is designed to capture information about certain activities that may qualify for additional grants and incentives.

Tax technical teams

Our tax experts in Ireland deal specifically with Government incentives like R&D tax credit and KDB. We have exposure to hundreds of claims per annum and significant Revenue interaction. This enables us not only to assist clients, but to help revenue to develop and design incentive policy.

Global reach

Gi3 lets you see the broader playing field by identifying incentive opportunities available to your company and standardising your approach and methodologies.

Scientists and engineers

We can assist you by ensuring that all activities that should qualify for R&D tax credits are identified, assessed and documented. Our team is experienced in all sectors, including software (including fintech), biotechnology, pharmaceutical, manufacturing, petrochemical, aerospace, chemical and utilities industries. 

Let’s talk

Meet our specialist team, allow us to discuss your RD&I situation. Our global view, expert team and best in class claim preparation approach may uncover significant areas where we can add value, efficiency, accuracy and robustness to your process. The typical claim process includes the following:   

  • Detailed information request – We request financial data and high-level project information in advance of a site meeting.
  • Site meeting – We hold a site meeting at your R&D location to perform technical interviews, develop project assessments, discuss any financial queries and review supporting documentation. We typically meet each of the project team leads for approximately two hours during the site visit.
  • Claim preparation – We prepare the schedules, project summary documents and R&D tax report which is reviewed by you prior to filing.

 

Visit the Global investment and innovation incentives (Gi3) webpage for more information.

Contact us

Adrian Walker

Adrian Walker

Director

Adrian is a specialist research and development tax credit and Government incentives advisor and works with clients to maximise their claims and prepare supporting documentation in line with Revenue’s... More

David Shanahan

David Shanahan

Partner - Tax

David Shanahan is a tax partner and works with companies across a range of industries, including life science, technology, energy and consumer products. He specialises in working with Irish groups on ... More

David O'Connell

David O'Connell

Director - Research and Development

David is a specialist research and development tax credit advisor since 2008 he works closely with companies to maximise claims through the assessment of activities and preparation of substantive docu... More

Andrew O’Reilly

Andrew O’Reilly

Senior Manager: Commercial

Andrew has been 8 years specifically dealing with the R&D tax credit and government incentives. Assisting companies in understanding the intricacies of the R&D tax credit legislation as well as grant ... More