R&D COVID-19 concession update

Mar 08, 2021

Revenue will continue to expedite payments of any instalment of excess R&D tax credit due to be paid in 2021, due to the exceptional circumstances of the COVID-19 pandemic. This is now confirmed on the Revenue website, which previously referred to the expedition of R&D instalments payable in 2020 only. This concession brings forward the payment date provided by section 766 and section 766A TCA 1997.

Requests for Revenue to expedite the payment of any 2021 instalments of excess R&D tax credits should be made through MyEnquiries. To enable payment of the excess credits, the form CT1 for the company’s accounting period ending in 2020 and for accounting periods ending up to March 2021 must, at the time of the request, be submitted.

To ensure timely processing of requests, they should be tagged appropriately within MyEnquiries:

  • enquiry relates to ‘Corporation Tax’
  • more specifically ‘R&D instalments payable in 2020 and 2021’.