London-headquartered R&D tax credit advisory firm TCM Funding has officially launched in Ireland, targeting what it describes as a significant and largely untapped opportunity, with fewer than 2,000 of an estimated 350,000 Irish companies currently claiming the relief despite up to 35% of qualifying research and development costs being eligible for return.

Business Plus reported that TCM Funding, the Irish arm of UK advisory group TCM Capital, which has traded since 2020, is preparing to open a Dublin office on Stephen's Green and has begun the local recruitment process.

Bradley Chalmers, group managing partner of TCM Capital, said the scale of the missed opportunity is significant, noting that only around 1% of Irish companies claim R&D tax credits despite the refunds being designed to help foster business growth and innovation. He said successful claims can generate a rebate worth up to 35% of R&D spend, which can then be reinvested into innovation and growth.

TCM Funding works with businesses across construction and engineering, design and manufacturing, IT and software development, agriculture, and pharmaceuticals and life sciences.

The firm has also established a member benefit partnership with Chartered Accountants Ireland, focused on professional collaboration and a programme of CPD webinars aimed at raising awareness of the scheme across the profession.

Jack Avery, head of Ireland at TCM Funding, said the partnership with Chartered Accountants Ireland is unique and allows the firm to demonstrate its R&D tax credits expertise to Irish chartered accountants, enabling them to offer specialist relief expertise to clients without adding pressure to their own teams.

Explore the full TCM Funding Ireland launch story.