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Accelerated Capital Allowances: An Overview, Bernard Doherty, James Mc Mahon, William Coffey, Ger Nagle, Kevin Delaney

Articles

ACA is based on the existing capital allowances tax structure or wear and tear allowance, for plants and machinery. Claiming the ACA is carried out the same way as for the standard capital allowances.

Organisations who invest in eligible energy-efficient capital equipment can deduct the full cost of the equipment from their profits in the year of purchase. This reduces the taxable profit in year one by the full cost of the equipment.

The Knowledge Development Box: An Overview, Kevin Delaney, Bernard Doherty, James Mc Mahon, William Coffey, Ger Nangle

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Finance Act 2015 introduced the Knowledge Development Box (KDB). The broad objective of the KDB is to promote innovation and provide an incentive whereby profits arising from patented inventions, copyrighted software and certain other specific asset classes can effectively be taxed at a reduced rate of 6.25%.

Research & Development Tax Credit, Kevin Delaney, Bernard Doherty, James Mc Mahon, William Coffey, Ger Nagle

Other resources

Ireland’s R&D tax credit system is ofmajor benefit to both multinational companies and SMEs operating in Ireland. The R&D tax credit was first introduced in Finance Act 2004 and offers a company undertaking R&D in Ireland a significant tax break, representing a potential 25% refund of costs incurred.This expenditure is also allowable as a Corporation Tax deduction, giving an effective deduction of 37.5% in a company’s tax liability.