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Department of Finance

The Department of Finance's mission is to lead in the achievement of the government’s economic, fiscal and financial policy goals, having regard to the goals set out in the Programme for Government.
 

Who we are?

The Department is one of the central Departments and works on existing policy challenges, which include ensuring the pursuit of an overall sound macroeconomic and fiscal policy stance, managing the State’s banking shareholdings as well as shaping future banking and financial services policy in a manner that best suits a modern vibrant economy that supports innovation and sustainability.
 

 


Who we service?

The Department is one of the central Departments and works across Government departments, agencies and industry to advise, design and implement Government policies to support economic advancement and to ensure fiscal sustainability.
 


What we do?

The Department works with a number of bodies under its aegis, including the Strategic Banking Corporation of Ireland and the Credit Review Office to help the SME sector in Ireland access funding. The Department also works with other Government Departments and agencies to provide more broad support the SME sector.
 


At a glance

Focus

Government’s economic, fiscal and financial policy goals
 

Sectors

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Network

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6 supports based on your selections

Credit Review

Get help to secure credit

This support provides a simple, effective credit review and appeals process for business owners who have been refused credit from participating banks.

You may be eligible if: 

  • You are a micro, small or medium sized business or farm
  • Your application is with AIB/BOI or PTSB
  • Your credit facility, or loan restructure request, has been refused, reduced or withdrawn within the past 28 days
  • Your application is for credit facilities between €1,000 and €3 million

Eligibility is subject to terms and conditions.

Loans

Key Employee Engagement Programme

Tax relief for employees of small and medium enterprises

The Key Employee Engagement Programme (KEEP) can help your business attract and retain key employees by allowing you to provide them with tax advantaged share based remuneration. 

KEEP helps micro, small and medium enterprises attract key employees by enabling the enterprise to offer employees share options with preferential tax treatment. Most trading activities are eligible for the scheme but certain professional services and financial activities are excluded.

You may be eligible if:

  • Your company is an unquoted micro, small or medium enterprise
  • You are carrying out a qualifying trade

The scheme is also available to companies that belong to larger group structures provided they are part of a qualifying group. Eligibility is subject to terms and conditions which can be found on the Revenue website: https://www.revenue.ie/en/additional-incomes/employment-related-shares/key-employee-engagement-programme-keep/index.aspx#:~:text=KEEP%20is%20available%20for%20qualifying%20share%20options%20granted%20between%2001

Grants & Funding

Research and Development (R&D) Corporation Tax Credit

Tax credit for expenditure on research and development (R&D) activities

The R&D Tax Credit can help your business pursue research and development projects and contribute to innovation and productivity.

You may be eligible if:

  • the company carries out qualifying R&D activities in Ireland, the European Economic Area (EEA) or the United Kingdom, and
  • is within the charge of Corporation Tax in Ireland. A company may qualify for the R&D Corporation Tax Credit if its R&D activities meet the following criteria:
  • involve systematic, investigative or experimental activities
  • are in the field of science or technology;
  • involve one, or more, of these categories of R&D: basic research, applied research, or experimental development;
  • seek to achieve a scientific or technological advancement; and
  • involve the resolution of scientific or technological uncertainty.

https://www.revenue.ie/en/companies-and-charities/reliefs-and-exemptions/research-and-development-rd-tax-credit/index.aspx

Grants & Funding

Employment Investment Incentive

Tax relief to investors in early-stage companies

The Employment Investment Incentive (EII) can help your new business attract risk finance equity by providing tax relief to your investors. 

The Employment Investment Incentive (EII) helps small and medium enterprises attract investment by offering an Income Tax relief to private investors. Most trading activities are included in the scheme but certain professional services such as legal and medical services are excluded. 

You may be eligible if: 

  • Your company is an unquoted micro-enterprise or SME carrying out a qualifying trade 

  • You are a new company that has not yet commenced operations 

  • You are a company operating less than seven years since your first commercial sale 

  • You are a company in operating less than ten years since incorporation 

  • Your company is expanding into a new economic activity 

Eligibility is subject to terms and conditions which can be found on the Revenue website. 

Grants & Funding

Start-Up Relief for Entrepreneurs

Tax refund for job leavers starting businesses

The Start-Up Relief for Entrepreneurs (SURE) is an Income Tax refund for people who leave employment to become entrepreneurs and start up their own company. 

You may be eligible if: 

  • You are an entrepreneur who is leaving PAYE employment (or recently unemployed) and starting your own company.
  • You have mainly PAYE income in the previous four years
  • For the three years preceding the year before the investment, you do not have earnings from any other source in excess of €50,000 or the employment income (whichever is lowest).

Eligibility is subject to terms and conditions which can be found on the Revenue website.

Grants & Funding

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Collaborating with you is essential for creating a dynamic future for businesses in Ireland.

Sarah

Innovate Solutions Project Manager
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