As part of his Budget 2025 speech on 1st October 2024, Minister for Finance, Jack Chambers announced that the amount receivable as a first instalment of the R&D Tax Credit will be changed to the greater of a) €75,000 or b) 50% of the R&D Tax Credit amount.
Based on 2022 claims (the most recent data), the increase to €75,000 (previously €50,000) is expected to increase the percentage of companies receiving full payment in the first year to approximately 44%.
It was also announced that the Department of Finance will undertake a review of the R&D Tax Credit.
Full details of the Budget 2025 announcements are available here.