Capital Allowances Claims for Property and Optimising R&D Tax Credits
Category: Tax | Date: 08/10/2024 12:10 | Duration: 100 mins | Tag: AUTXIE24D1S2 | Type: Webinar | Speaker: Philip O'Connor, Eoin Brennan
The Research and Development (“R&D”) Tax Credit is a very valuable tax incentive, potentially reducing the cost of a company’s R&D by up to 30%. It can be received as a payable credit and is therefore an important source of funding for innovative companies. Companies may not be aware of the R&D Tax Credit and therefore accountants have an opportunity to strengthen their client relationships by bringing it to their clients’ attention and assisting them with the claim process.
The tax credit is available to companies of all sizes and in any industry sector provided the necessary conditions are met. These conditions include a Science Test (i.e. does the project meet the definition of R&D activities) and an Accounting Test (i.e. has only qualifying expenditure been included and has it been treated in accordance with the legislation). The combination of the Science Test and Accounting Test along with the close scrutiny of claims by Revenue means that a robust claim process needs to be put in place and that any claims selected for audit are properly supported. In this webinar we will look at claim preparation and supporting the claim through a Revenue Audit.
The last couple of Finance Acts have made some of the most significant changes to the tax credit since it was first introduced in 2004. The webinar will include an update on these new rules.
The following topics will be covered during this webinar:
By attending this session, you will be able to:
This session will be of particular interest to tax advisors, business owners and accountants.
Course Level: Foundation
Philip O'Connor
Eoin Brennan