Can I claim tax back if I am setting up my business?


If you set up a business in Ireland you may be entitled to a refund of up to 41% of the amount you invest.

The scheme is called the Start Up Refunds for Entrepreneurs (“SURE” scheme). Under the scheme, you can claim up to 41% of the amount of cash invested in a newly incorporated limited company (assuming you have paid PAYE in the past). The minimum investment is €250 and the maximum is €700,000.

Conditions of the scheme:

  • You have to invest cash in a limited company, which has issued you with new shares
  • You need to own at least 15% of the company
  • The company must carry on a “qualifying activity”
  • You have to have earned mainly PAYE income in the past 4 years
  • You can sell the shares for 3 years from date of issue
  • You need to be employed by the new company

It can’t be a business that existed already and is now converting into a limited company (or was purchased and converted into a limited company).

Watch our full video on the SURE scheme here:

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Mark Sweetman, ACA

Mark Sweetman, ACA

As a Chartered Accountant I've built my experience working within the SaaS and digital technology industries, growing early-stage businesses from the inside. I help digital entrepreneurs understand their companies and ensure they have all the tools they require to succeed and thrive. I love adopting new tech solutions and making use of these to increase efficiency within our clients' businesses.