Finance (No.2) Bill 2023 introduced a new requirement in respect of companies who are intending on making a R&D corporation tax credit claim. For accounting periods commencing on or after 1 January 2024, certain companies must notify the Revenue Commissioner of their intention to file a R&D Tax Credit claim. The notification must be submitted at least 90 days before making the claim. This pre-filing notification applies to companies claiming the tax credit for the first time and to companies that have not claimed the credit in any of the previous three accounting periods.

The notification must be submitted in writing, using the format specified by Revenue. The form to be completed depends on whether the claim is being made under S766C or S766D (i.e. expenditure on buildings and structures) TCA 1997. If claims are being made under both sections, separate pre-filing notifications must be made. A copy of the forms as released by Revenue can be found on the Revenue website.

The company must ensure that the R&D claim meets all the requirements before applying. The formal R&D claim must be made within 12 months from the end of the accounting period in which the expenditure is incurred. This is a very tight window in order to make a valid claim and Revenue strictly apply the statute.

The completed forms should be submitted to the Revenue Commissioners via My Enquiries, selecting the following options:

• Category: Corporation Tax (CT)
• Subcategory: R&D Pre-filing Notification

Given the existing very tight time limit for making a R&D claim, this pre-filing notification is a very unwelcome development. The reality is that this will mostly impact on smaller businesses, who may not be accustomed to making annual R&D claims as well as new start-ups. It is important however that companies that are potentially impacted by this pre-notification requirement are aware of their obligation and make the notification (and subsequent claim) on a timely basis. 

RBK tax can provide you with support and guidance in navigating this process. We work with market leading international R&D specialists who can assist you in preparing your pre-filing notification, maximising your R&D claim and providing support to any Revenue queries on your claim.

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For more advice and support, talk to a member of the RBKTax team.