The full amount of the relief can be claimed in the year in which the expenditure was incurred. However, if a company has an insufficient corporation tax liability to be able to use the full amount of the credit, any excess may be carried forward. The tax credit claimed can be clawed back by the Revenue Commissioners if the building ceases to be used for R&D activities within a 10-year period.
A tax credit of 25% is available in respect of expenditure incurred on buildings used for R&D purposes. To qualify the company must be entitled to claim Industrial Buildings Allowance on the building.