In April 2020, the latest R&D Tax Credit Revenue statistics were released. This showed a continuation of the downward trend in the cost of the incentive over recent years. Down from a high of €708m in 2015 the figure now stands at €355m for 2018. In addition, 2018 saw a 13% drop in the number of applications to 1,303. Companies with up to 49 employees account for 65% of the 1,303 claimants but only 20% of €355m value of the R&D credit.
Improvements to the R&D tax credit regime, specifically directed towards micro and small companies, including increasing the available credit from 25% to 30% and making it available to companies who have yet to start trading have yet to be enacted. IRDG will continue to liaise with the Department on the likely implementation date and will inform members.
Future details on R&D tax credit statistics will be shared as they become available.
Share This Story, Choose Your Platform!
Subscribe for News & Events
Subscribe to our newsletter for all the latest news and events from IRDG.
"*" indicates required fields
We do not spam. You can unsubscribe anytime.
