The Compass provides stakeholders and R&D active companies with an understanding of the policy consideration which are given to issues that were raised as part of the R&D consultation process which was held last year. The Compass also sets out a medium-term plan for the potential development and enhancement of the R&D regime and supports for innovation in 4 broad areas:
- Qualifying Expenditure
- Capital Expenditure
- Administration and Simplification
- Supports for Innovation
Work has commenced on looking at the subcontracting measures and at measures to support innovation
The Tánaiste said:
"I am delighted to announce the publication of the Research and Development Tax Credit and Innovation Compass
The publication of this Compass follows on from the recent publication of the 2025 R&D review. Recognising the investment by respondents into the consultation process that formed part of that review, and the value for business and other stakeholders of knowing how policy consideration of issues they raised may continue, the Compass sets out a medium-term pathway for further work in respect of the R&D tax credit and tax supports for innovation
The Compass identifies areas that will be reviewed further over the term of this Government, with the specific direction of travel in each of those areas to be determined as relevant analysis is completed."
