Global Investment and Innovation Incentives (Gi3)
Fuel your R&D, Innovation, and other Business Investments
Incentives encourage companies to grow and innovate by lessening the cost of investment. At Deloitte, our expert knowledge of the incentives landscape can help companies maximise this support to facilitate new investment.
Identifying and Maximising Incentives
Incentives can unlock significant value for your business by supporting R&D, innovation, and workforce development. However, identifying the right schemes, and meeting their eligibility criteria, can be complex and time consuming. Without the right guidance, you may not maximise the support available to you. The Deloitte Gi3 team of professionals can provide support to help you pursue the right incentives to maximise the value of your investment within Ireland. Ireland offers several attractive incentives, including the R&D Tax Credit, which returns 30% of qualifying expenditure to companies undertaking qualifying R&D activities.
Our Gi3 team is comprised of engineers and scientists to assist with the Science Test, and tax experts to assist with the Accounting test. Coupled with the new Clarity Incentives Platform, which will collect and collate R&D activity data in real time, Deloitte can help provide a streamlined process that maximises incentives with a minimal administrative burden.
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How we can help
Identifying and successfully applying for suitable incentives and all qualifying R&D activities can be challenging for businesses of all sizes. This coupled with the increasing demand for robust R&D processes, supporting technical reports, as well as risk of regulatory scrutiny, mean that the administrative burden on claimants is growing.
Does your business:
- Have significant R&D activities in Ireland?
- Manage multiple technical teams reporting centrally?
- Manage multiple cost/profit centres for R&D activities?
- Have separate unconnected R&D locations?
- Have difficulty reporting R&D costs on Enterprise Resource Planning (ERP) application?
- Have qualifying R&D activities outside your core R&D cost/profit centres?
In our experience, each of the factors above can present additional difficulty in preparing and defending incentives applications, in particular your R&D tax credit claims. If any of the above apply to you, our specialist team can assist in innovating new approaches and methodologies to improve the way in which you manage, measure and report on the qualifying R&D activities for the incentives available in Ireland and globally.
Gi3 can assist with all, or any one element, of your R&D incentives process:
- Scoping
- Educational workshops
- Qualifying activity identification
- iSmart (Deloitte’s bespoke R&D incentive management software)
- Document preparation
- Financial and tax analysis
- Claim submission
Deloitte combines deep tax technical expertise with highly experienced scientists and engineers. This knowledge is augmented by our industry-leading ISmart technology.
R&D incentive claims often receive intense regulatory and Revenue scrutiny. Gi3 can provide assistance in the resolution of any such audits as well as support related to claims. In short, we assist with information requests or objections from regulatory and granting bodies, in particular supporting client teams throughout the R&D Tax Credit Revenue Audit process.
