1 / 15

Renewable Energy R&D Tax Credits 18 September 2014

Renewable Energy R&D Tax Credits 18 September 2014. Brian Thornton Partner KPMG. Agenda. What is the R&D tax credit? Key technical requirements Eligible expenditure & finance. What is the R&D Tax Credit?. What is the R&D tax credit?. €25 credit / cash for every incremental €100 spent.

ramona-may
Download Presentation

Renewable Energy R&D Tax Credits 18 September 2014

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Renewable EnergyR&D Tax Credits18 September 2014 • Brian Thornton • Partner • KPMG

  2. Agenda What is the R&D tax credit? Key technical requirements Eligible expenditure & finance

  3. What is the R&D Tax Credit?

  4. What is the R&D tax credit? €25 credit / cash for every incremental€100 spent

  5. What is the R&D tax credit? The credit incentivises companies to invest in Ireland and increase R&D spend in the Irish economy. The credit encourages companies to create new jobs in Ireland. The credit rewards companies being innovative. The R&D tax credit is key in Ireland’s economic growth policy.

  6. Key technical requirements

  7. Qualifying Activities • 5 Key Requirements • Basic research • Applied research • Experimental development Systematic, investigative or experimental activities Revenue approved field of science or technology Involve the resolution of scientific or technological uncertainty • Seek to achieve scientific or technological advancement

  8. Eligible expenditure and finance

  9. Eligible expenditure Pension VHI Share options

  10. Eligible expenditure • Other eligible expenditure? • Outsourced expenditure to third parties and universities to carry on R&D

  11. Claiming the R&D tax credit The R&D tax credit must be claimed within 12 months of the financial year end!

  12. Claim calculation Sample calculation:

  13. Take Home Points: Worthwhile credit - €25 rebate for every €100 spent Must be claimed within 1 year Significant documentation requirements – the price to be paid! Important to seek advice early

  14. www.kpmg.ie/r&d

  15. Thank You Brian Thornton 091 534634 brian.thornton@kpmg.ie

More Related