Course Details

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:

  • Background to the R&D Tax Credit (history, latest stats)
  • Preparing a claim – Science Test (what projects qualify, what are the important qualifying criteria, what supporting documentation must be maintained)
  • Preparing a claim – Accounting Test (what costs qualify, how is each cost heading treated, what specific rules apply to certain costs e.g. subcontractor notification requirements)
  • Revenue Audits – (What are the types of audits and Revenue Interventions, What can be expected during an audit, Closing out an audit, Update on a recent tax case)
  • Recent Updates – (What changes have been introduced in recent Finance Acts and when do these become operational)

 

By attending this session, you will be able to:

  • Identify clients that may be entitled to an R&D Tax Credit 
  • Assist those clients in preparing a claim 
  • Advise clients that have received notification of a Revenue Intervention
  • Be up to date with the most recent changes

 

 

This session will be of particular interest to tax advisors, business owners and accountants.

 

Course Level: Foundation

CPD Course Speaker

CA Partners

Philip O'Connor

CA Partners are an independent firm of capital allowances specialists who advise on the preparation of capital allowances claims for property in a robust and tax compliant manner.

Philip O'Connor is managing director of CA Partners. He is a dual qualified tax adviser and chartered surveyor with over 18 years experience specialising in property tax incentives.

He advises on all aspects of property tax incentives including entitlement, valuation and optimising capital allowances claims.

Before setting up CA Partners, Phil led the capital allowances team of one of the "big 4" accountancy firms.

SciMet R&D

Eoin Brennan

Eoin Brennan is Managing Director of SciMet R&D, a firm specialising in the delivery of R&D Tax Credit services. SciMet R&D assist companies of all sizes and from across the full range of R&D performing sectors in availing of their R&D Tax Credit entitlement. We provide a complete end-to-end service from initial claim preparation to Revenue Audit support. We also assist companies in accessing R&D Grants, Knowledge Development Box and Digital Games Tax Relief.

Prior to setting up SciMet R&D in 2014, Eoin headed up the Irish operations of an international R&D Tax Credit consultancy firm.

Eoin is a Chartered Tax Advisor since 2001 and completed the ACCA accountancy exams in 2004. He subsequently completed a Diploma in Science and Technology (Atlantic University Alliance) and a Higher Diploma in Science in Computing (Technology University Dublin).