Revenue to issue details of common errors in R&D tax credit claims

Revenue has advised that it will be issuing a notice to all companies who have claimed the Research and Development (R&D) tax credit outlining common errors observed in claims being submitted.

In the notice, Revenue outlines that making an R&D tax credit claim is a self-assessment process, hence the onus is on the claimant to ensure that a valid claim is made within the 12-month statutory time limit. The notice also confirms that Revenue does not have discretion when applying the R&D legislative provisions.

The notice also encourages all claimants to review the accuracy of any R&D claim submitted or to be submitted to ensure a valid claim is made. Notices will also be sent to the agent for the relevant company.