Capital Allowances & R&D Tax Credits Update (Oct 23)
Category: Tax | Duration: 2hrs | Tag: VODAUTXIE23D2S1 | Type: Video | Course Level: Intermediate | Speaker: Peter Gibbons, Paul Smith | Date: 05/10/2023 10:00
Course Details
Capital allowances are a form of tax relief for capital expenditure incurred on certain assets. Similar to depreciation, the relief is a write off of the expenditure over a certain period for certain assets in use for the purposes of the trade or rental business.
In the first part of this course Peter Gibbons covers the following topics;
- Why consider Capital Allowances?
- Who can claim Capital Allowances?
- What expenditure qualifies?
- How do you benefit from claiming?
- How soon do you benefit from claiming?
The purpose of the R&D tax credit regime is to encourage both foreign and indigenous companies to undertake new or additional R&D activity in Ireland. It is a very valuable relief for qualifying companies.
In the second part of this course Paul Smith covers the following topics;
- Qualifying Companies
- Qualifying R&D expenditure
- How to claim?
- Finance Act 2022 changes to the R&D regime
- R&D Specified Return
CPD Course Speaker
Grant Thornton
Peter Gibbons
Peter joined Grant Thornton in 2018 with our Corporation Tax team.
Since joining, he has gained significant experience in providing Capital Allowance services and tax advice to a wide range of clients from SME’s to large multinationals.
Peter specializes in advising clients across the tax depreciation and compliance areas. He also has considerable experience in the planning aspects of agricultural reliefs, Transfer Pricing, corporate structuring and other tax issues.
Peter’s experience includes a broad range of sectors including, real estate, agriculture, manufacturing and food & beverages.
He has extensive experience with other innovation reliefs and tax incentives, where he has wide experience on capital allowances reviews, transfer pricing, property tax and capital taxes planning.
Peter is a member of the Irish Taxation Institute (IT).
Since joining, he has gained significant experience in providing Capital Allowance services and tax advice to a wide range of clients from SME’s to large multinationals.
Peter specializes in advising clients across the tax depreciation and compliance areas. He also has considerable experience in the planning aspects of agricultural reliefs, Transfer Pricing, corporate structuring and other tax issues.
Peter’s experience includes a broad range of sectors including, real estate, agriculture, manufacturing and food & beverages.
He has extensive experience with other innovation reliefs and tax incentives, where he has wide experience on capital allowances reviews, transfer pricing, property tax and capital taxes planning.
Peter is a member of the Irish Taxation Institute (IT).
Grant Thornton
Paul Smith
Paul joined Grant Thornton in 2022 from a Big 4 accountancy firm, where he was a senior manager in their tax innovation and incentives team.
He has over 10 years experience in preparing and defending tax incentives claims.
During that period, he has:
• Advised on over 900 tax incentive claims
• Delivered R&D tax clinics to IRDG members
• Spoken at IRDG Innovation and Funding seminars
• Published in ITI; Accountancy Ireland; and Finance Dublin
He studied science (UCD), and later became a member of the Law Society of Ireland, a member of the Association of Certified Chartered Accountants (ACCA), and a member of the Irish Taxation Institute (ITI).
He has over 10 years experience in preparing and defending tax incentives claims.
During that period, he has:
• Advised on over 900 tax incentive claims
• Delivered R&D tax clinics to IRDG members
• Spoken at IRDG Innovation and Funding seminars
• Published in ITI; Accountancy Ireland; and Finance Dublin
He studied science (UCD), and later became a member of the Law Society of Ireland, a member of the Association of Certified Chartered Accountants (ACCA), and a member of the Irish Taxation Institute (ITI).