Innovation Just Got Cheaper: What Does The New 35% R&D Tax Credit Mean for Your Business
Innovation Just Got Cheaper: What the New R&D Tax Credit Means for Your Business

Let’s be honest: for most of us, the word “tax” brings to mind paperwork, deadlines, and a subtle sense of anxiety. It feels like a one-way street where money leaves your account, never to be seen again.

But here is the reality we want you to understand. The Irish tax system is not just about taking; it has built-in mechanisms for giving back. Every year, thousands of Irish workers and families unknowingly donate millions of euros to the Exchequer simply because they do not claim the reliefs they are legally entitled to.

At Intax, we believe your money belongs in your pocket. Today, we are going to cut through the jargon and give you authoritative, clear instructions on the reliefs you need to check right now.

1. The Rent Tax Credit: A substantial boost

If you are renting your home, you must pay attention to this. In Budget 2024 and 2025, the government significantly widened the scope of the Rent Tax Credit.

The Facts: For the tax years 2024 and 2025, the credit has been increased. A single person can now claim up to €1,000 per year, and a jointly assessed couple can claim up to €2,000.

Do not assume you are automatically ineligible. If you pay for private rented accommodation—and you are not receiving state housing support—you are likely eligible. You need to log into your Revenue myAccount and claim this credit. It is not applied automatically; you must ask for it.

2. Medical Expenses: The “Hidden” Refund

Most people know they can claim for doctor’s visits. However, the scope of “Qualifying Health Expenses” is much broader than a GP visit.

The Facts: You are entitled to tax relief at the standard rate (20%) on a vast array of medical costs. This includes:

  • Prescriptions (drug payment scheme amounts).
  • Non-routine dental care (like root canals or crowns—ensure your dentist provides a Med 2 form).
  • Physiotherapy and diagnostic procedures.
  • Certain dietary products for coeliacs and diabetics (with a doctor’s letter).

Stop throwing away your receipts. Review your spending from the last four years. You have a four-year window to claim refunds. If you paid for an MRI in 2021, you can still claim that money back today. Upload your receipts to the Revenue Receipts Tracker app as you go—it makes the final claim effortless.

3. Flat Rate Expenses: The “Job-Specific” Relief

This is the most common missed opportunity we see. Revenue has agreed on flat-rate expense allowances for hundreds of specific job roles to cover the cost of uniforms, tools, and equipment.

The Facts: Are you a nurse? A shop assistant? A waiter? An engineer? There is likely a specific tax deduction already agreed upon for your role.

  • Nurses can claim substantial yearly amounts for uniform maintenance.
  • Shop assistants often have a flat rate allowance.
  • Teachers, carpenters, and electricians all have specific bands.

Check the Flat Rate Expenses list on Revenue.ie or contact us at Intax. We will review your employment history. If you have been working in eligible roles for years without claiming this, you could be due a lump sum refund for the past four years.

4. Remote Working Relief (e-Working)

Remote and hybrid work is now the norm, but are you treating your home office like the cost centre it is?

The Facts: If you work from home, you are incurring costs for electricity, heating, and broadband that you wouldn’t pay if you were in an office. You can claim tax relief on 30% of the cost of electricity, heat, and broadband, apportioned based on the number of days you worked from home.

Calculate your days. If you worked from home 100 days last year, you are entitled to relief on a portion of your utility bills for those 100 days. It requires a calculation, but it is money that belongs to you.

Take Control Today

Tax should not be something that “happens” to you. It should be something you manage actively.

The difference between a tax bill and a tax refund is often just knowledge. By applying the rules above, you shift the power dynamic. You become a proactive taxpayer rather than a passive one.

Do not let the paperwork intimidate you. That is what we are here for. If you are unsure if you are claiming everything you are entitled to, reach out to the team at Intax.ie. We will review your unique situation, ensure you are compliant, and most importantly, ensure you aren’t leaving your hard-earned money behind.

Disclaimer: This article provides general information based on current Revenue and Citizens Information guidelines. Tax laws are subject to change. For specific advice tailored to your personal circumstances, please consult with our team.