WEALTH May 8, 2026 0 Comments

Why Are Irish Innovators Missing Out on Billions? The Shocking Truth Behind R&D Tax Credits Revealed!

Ever wondered why so few Irish companies dive into claiming R&D tax credits when there’s a juicy 35% rebate on the table? It’s as if businesses are overlooking free money right under their noses – a baffling move considering the potential fuel it could add to their innovation engines. According to TCM Funding, a sharp new advisory offshoot of London’s TCM Capital, less than 2,000 of Ireland’s 350,000 companies have taken the plunge, a shockingly low figure that screams “missed opportunity.” The culprit? A mix of low awareness and a fear of tangled, complex claims processes that makes many shy away. But here’s the kicker: TCM Funding is shaking things up, offering expert, no-nonsense guidance to make the whole thing less daunting and way more profitable for both giants and the up-and-coming SMEs across industries from pharma to IT. Their mission is clear—turn that tiny 1% uptake into a tsunami of smarter, cash-savvy innovators ready to reinvest in growth. Ready to get in on the secret sauce and supercharge your business innovation? LEARN MORE

The number of eligible Irish companies claiming R&D tax credits is “extremely low,” according to TCM Funding.

The newly launched advisory, a subsidiary of London-based TCM Capital, offers specialist expertise to help companies to optimise tax credits on R&D expenditure by delivering technically robust and fully compliant, defensible claims.

Businesses can claim back up to 35% of qualifying R&D costs, but low awareness and perceptions of a complicated claims process have prevented wider take-up.

The company estimates that fewer than 2,000 of the roughly 350,000 companies in Ireland have claimed the tax credits, although not all of them would qualify

TCM Funding offers tailored support to ensure both large and small companies can fully benefit from the incentives available.

The firm works with organisations across a wide range of sectors including construction and engineering; design and manufacturing; IT and software development; agriculture; and pharma and life sciences.

“Given that only around 1% of Irish companies claim R&D tax credits, we see enormous potential for organisations here to benefit from these refunds, which are designed to help foster business growth and innovation,” Bradley Chalmers, group managing partner at TCM Capital.

“Our research shows there is a significantly low level of awareness of how to qualify for R&D tax credits and we’ve also found that many find the process daunting and complicated.

“Our mission is to help clients navigate the claims process and provide expert technical guidance and deliver tangible financial results. For many businesses, this can mean a rebate worth up to 35% of their R&D spend, which can be reinvested in the company’s own innovation and growth.”

“Around 45% of Irish enterprises operate in sectors where R&D tax credits may typically apply. Of course, we don’t expect all of those companies to qualify, but when you consider that fewer than 2,000 companies claim the relief out of a total of roughly 350,000 companies in Ireland – there’s clearly a significant gap between eligibility and uptake.

“The majority of R&D tax credit value in Ireland is driven by large companies, indicating a meaningful opportunity for SMEs to reclaim a portion of their annual investment in innovation.”

Commenting on the launch of TCM Funding in Ireland, Chubb Fire & Security CFO Caroline Coward said: “We’ve partnered with TCM in the UK for many years now and in that time, they have consistently delivered a professional, supportive service, enabling us to recoup a significant amount of our annual innovation investment.

“Now that they have launched TCM Funding in Ireland, we’re excited to work with them through our Irish entity which has operations in Dublin, Cork and Limerick.

“Our Chubb Ireland team are really looking forward to working with TCM Funding to produce the same positive results within the framework of the Irish R&D tax credit system.”

In addition to working directly with companies, TCM Funding also provides advice on R&D tax credits to accountants, enhancing the service they offer to their own clients.

In this regard, TCM Funding has established a Member Benefit partnership with the representative body Chartered Accountants Ireland (CAI).

This partnership is focussed on professional collaboration with the membership group, providing education, including the hosting of a series of CPD webinars, all with the aim of raising awareness in relation to the R&D tax credit scheme for Irish businesses and their advisers.

“Our partnership with CAI is unique and allows us to demonstrate to Irish chartered accountants the expertise that we have built up in the R&D tax credits space,” said Jack Avery, head of Ireland at TCB Funding.

“By partnering with TCM, accountants can offer specialist R&D tax relief expertise to their clients across Ireland without adding pressure to their own teams.

“Our engineers and accountants handle the entire claims process end‑to‑end, typically requiring only a few hours of client time.

“This allows accountants to strengthen their advisory offering by harnessing TCM’s specialised expertise and thus, delivering measurable extra value to their clients, unlocking significant tax benefits, all while saving time and ensuring every claim is robust, compliant, and audit‑ready.”