Powering innovation through R&D tax credit management
"Innovation deserves funding. But it also deserves the right systems, governance and expertise to help it thrive."
Cathal Noone, Partner Tax & Legal, Deloitte Ireland.
Every day, across laboratories, manufacturing facilities, technology teams and engineering departments, Irish businesses are solving problems. They are developing new products, improving processes, investing in technology and finding better ways to serve customers.
Yet many of those same organisations face a challenge when it comes to claiming the support available to them. More often the issue isn’t a lack of innovation, it’s a lack of time, structure and documentation. Research and development (R&D) tax credits are designed to reward companies that invest in innovation. For many businesses, understandably, they represent a significant opportunity to reinvest in growth, create jobs and accelerate future development. But claiming those credits requires robust evidence, clear governance and detailed records that can stand up to scrutiny.
As the value of these credits increase to 35% of qualifying expenditure, the importance of targeting that process right every year has never been greater.
That’s why the launch of Deloitte’s Clarity Incentives Platform, a new digital solution designed to transform how organisations manage these credits and grant claims, has been a key driver. Clarity challenges the traditional approach to these claims by moving from retrospective compliance to real-time innovation management. Its differentiation lies in helping businesses maximise the value of innovation as it happens.
We regularly see businesses carrying out highly innovative work but struggling to demonstrate it in a way that supports a strong claim
Cathal Noone, Partner Tax & Legal, Deloitte Ireland.
“It’s about having the processes, controls and contemporaneous records needed to evidence that activity effectively. Clarity does that. “
For clients, the impact is significant. Claims become more transparent, more consistent and easier to manage. Teams can also spend less time chasing information and more time focusing on innovation.
But this platform represents a broader shift. Increasingly, our specialists are combining technical expertise with digital innovation to solve practical business challenges. That’s what clients expect from a strategic partner at the number one professional services firm globally. Better processes, stronger governance, and enhanced capabilities for the future. The systems that support the innovators should be just as innovative.
