Revenue have introduced a new pre-notification requirement for companies claiming the R&D Tax Credit. 

What has changed?

The following points are the key changes to note;

• For accounting periods beginning on or after 1 January 2024, companies claiming the R&D credit for the first time must notify Revenue before making their claim by filing pre-filing notification.
• This requirement also applies to companies which have not claimed the credit in the previous three years.
• Companies must file a pre-filing notification form at least 90 days before the claim for the credit is made.
• If a company has made a claim for the R&D Corporation Tax Credit or the R&D Tax Credit in any of the three preceding years, they will not have to complete the pre-filing notification.
• The notification must be in writing, using the form prescribed by Revenue. These forms  are now available on Revenue’s website.

The pre-filing notification aims to ensure that companies intending to claim the R&D Corporation Tax Credit are properly prepared and compliant with Revenue’s requirements. This step helps streamline the process and ensures that claims are made accurately and within the stipulated guidelines. 

Who does it apply to?

This change applies to;

1. Any company claiming the R&D corporation Tax Credit for the first time.
2. Any future claims by companies that have not claimed the R&D credit in any of the previous three accounting periods.

Effective date of the change 

This change applies for accounting periods starting on or after 1 January 2024.

Filing deadline

The notification must be filed at least 90 days before the R&D credit claim is filed. 

Get in touch with our experts

Ireland’s 30% R&D tax credit is a valuable incentive designed to encourage companies to invest in research and development activities.

We offer  feasibility calls to help you understand if your company is entitled to claim the R&D tax credit. Please reach out to our team of experts for assistance in understanding if your company is entitled to an R&D tax credit claim.