Adequately assessing a potential R&D claim at the beginning is one of the most important parts of the R&D claim process. R&D activities need to meet certain legislative requirements for them to be deemed eligible activities by the Revenue Commissioners.
R&D Eligibility Requirements
- Are you conducting an experimental activity that is developing new of improved:
Technical in nature
- Is it conducted as a “systematic progression” of work based on science principles of:
- Physical Science?
- Biological Science?
- Computer Science?
Process of experimentation
- Does it proceed from hypothesis to experiment, observation and evaluation and lead to a logical conclusion?
Elimination of uncertainty
- Is the outcome unable to be determined in advance based on current knowledge, information and experience?
If your company’s research matches the above criteria, it may be eligible for the R&D Tax Credit