TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

R&D Tax and Duty Manual sets out early refunds of R&D credits

Revenue’s R&D Tax and Duty Manual Part 29-02-04 was updated to reflect the early payment of 2020 instalments of excess R&D tax credits. The manual states that in the exceptional circumstances of the COVID-19 pandemic and subject to appropriate checks in selected cases, Revenue will expedite the payment of any instalment of excess R&D tax credit that is due to be paid in 2020, bringing forward payment in advance of the date provided by section 766 and section 766A TCA. Requests for Revenue to expedite the payment of any 2020 instalments of excess R&D tax credits should be made through MyEnquiries.

The updated R&D TDM 29-02-04 also reflects minor changes to paragraphs 1 and 3.