Taxes Consolidation Act 1997 section 764

Deduction for revenue expenditure on scientific research

Section 764 allows a person carrying on a trade to deduct revenue expenditure on scientific research when computing trading profits, whether the research is related to the trade or not.

• A trader may deduct non-capital expenditure incurred on scientific research that relates to the trade.
• A deduction is also available for payments made to an approved research body or an Irish university to carry out scientific research on the trader's behalf.
• Where the scientific research is not related to the trader's own trade, the expenditure or payment is still deductible against trading profits.
• From 6 April 2001, the relief for payments to approved research bodies or Irish universities is only available under and within the provisions of section 848A.