R&D Tax Credit | Pharmaceutical & Medical Devices
Our expertise extends to assisting businesses in the Pharmaceutical sector with accessing R&D tax credits and other tax incentives designed to support their innovative projects.
Pharmaceutical & Medical Device R&D Efforts
The Pharmaceutical and Medical Device industries are currently experiencing a surge in Ireland, with top companies relocating or conducting research and development activities in the region. The demand for expertise in chemistry, biology, and engineering technology is essential for bringing new products to market. This requires specialized and advanced R&D efforts, which align with industry trends.
Companies within the Pharmaceutical & Medical Device sector are consistently engaged in ongoing research and development to introduce new products, adapt to external factors, and remain competitive.
Eligible R&D Activities in the Pharmaceutical Industry
– Formulation development or improvement.
– Substitution of API, raw materials, or preservatives.
– New synthesis route development.
– Assay and analytical method development.
– Enhancement of personal products with novel ingredient combinations.
– Sourcing new ingredients to enhance product quality.
– Scaling up production processes while maintaining stability.
– Extending shelf life by inhibiting bacterial growth.
– Meeting legislative requirements related to chemistry, stability, performance, and safety.
Eligible R&D Activities in the Medical Device Industry
– Advancing medical device technology.
– Enhancing performance or functionality.
– Optimising design, fabrication, and assembly parameters.
– Developing prototype molds.
– Creating tools, jigs, and fixtures.
– Testing materials for required characteristics.
– Innovating manufacturing processes.
Qualified R&D Expenses
Eligible expenditures encompass wages, third-party contractor costs, materials, machinery, equipment, and overheads.
How Braithwaite Can Assist You
We possess comprehensive knowledge of R&D tax credit eligibility and calculation. Our experienced team specializes in claiming R&D tax credits, providing guidance on maximizing tax incentives for innovation. With our assistance, your company can confidently pursue successful R&D tax relief endeavors tailored to the Engineering and Manufacturing sector. We are your trusted R&D tax credit experts.
Contact us today for further information: info@braithwaite.ie.
