If you’re planning to launch your own business in Ireland, there’s a government-backed scheme that could help you claim thousands of euros in tax relief. The SURE scheme—short for Startup Refunds for Entrepreneurs—is designed to reduce the financial risk of setting up a limited company by offering a refund of income tax paid in previous years.
This support can make a real difference to first-time entrepreneurs, especially in the early stages when cash flow is tight and strategic investments—such as product development, marketing, or working with an SEO agency in Dublin—can accelerate early growth.
In this article, we’ll break down how the SURE scheme works, who qualifies, and how to apply.
What Is the SURE Scheme?
The SURE scheme is a tax refund initiative run by Ireland’s Revenue Commissioners. It allows eligible individuals to claim back a portion of the income tax they’ve paid in the previous four years—provided they’re investing that money into a new business.
The idea is simple: if you’re leaving PAYE (Pay As You Earn) employment to set up a company, you can claim income tax refunds based on the amount of capital you invest in your startup. This refund can range from €10,000 up to €100,000, depending on how much tax you’ve paid and how much you invest.
For many entrepreneurs, this scheme serves as a valuable injection of working capital, helping to fund everything from hiring staff and buying equipment to launching marketing campaigns and building a professional website.
Who Is Eligible for the SURE Scheme?
To qualify for the SURE scheme, you must meet several specific criteria:
- You must be establishing a new company in Ireland. The company must be incorporated and must carry on a qualifying trade.
- You must invest your own money in the business in exchange for ordinary shares.
- You must have paid PAYE tax in Ireland in the previous four years.
- You must take up full-time employment in the new company as a director or employee.
- The company must not have been previously carrying on the same trade or have taken over an existing trade.
It’s also important to note that your company must remain a qualifying business for at least four years after you claim the refund—otherwise, the tax relief may be clawed back.
How Much Can You Claim?
The amount you can claim depends on the following factors:
- How much income tax you paid in the past four years
- How much capital do you invest in your new company
For example, if you’ve invested €20,000 of your own money into your startup, and you’ve paid at least €20,000 in PAYE income tax over the past four years, you may be eligible to reclaim up to €20,000 from Revenue.
You can claim relief based on tax paid in one, two, or all four of the years prior to the investment. This flexibility allows entrepreneurs to tailor their refund claim in a way that maximises value and supports their startup goals.
What Counts as a Qualifying Business?
Not all companies or sectors are eligible under the SURE scheme. To qualify, your business must be a new venture engaged in trading activities. That generally includes sectors like:
- Software and app development
- Product-based businesses
- Online retail
- Manufacturing
- Engineering
- Professional services
However, the scheme excludes passive businesses like property investment or land development. The focus is on businesses that contribute to employment and innovation in the Irish economy.
If you’re unsure whether your business idea qualifies, it’s worth consulting with your accountant or speaking directly with your Local Enterprise Office (LEO), who can help guide you through the process.
How Do You Apply?
Applying for the SURE scheme involves a few steps but is relatively straightforward if you’re organised.
- Set up your limited company with the Companies Registration Office (CRO).
- Invest your capital in exchange for new ordinary shares in the company.
- Apply for SURE pre-approval by submitting Form SURE and a business plan to Revenue.
- Once approved, submit Form SURE 1 after the company starts trading and you begin working in it full-time.
Revenue will then process your claim and issue a refund directly to your bank account. Processing times may vary, but most claims are settled within a few weeks to a few months, depending on the complexity of your application and supporting documentation.
How Startups Can Maximise the SURE Refund
Many early-stage founders use the SURE refund as part of a broader funding strategy. The reclaimed tax can go toward:
- Building your website or online store
- Hiring initial staff
- Renting an office or co-working space
- Investing in branding and digital advertising
- Partnering with a digital marketing agency to increase visibility and drive targeted traffic
For businesses operating in competitive markets—whether it’s e-commerce, digital services, or B2B solutions—having working capital from the SURE scheme can give you an early edge.
Final Thoughts
The SURE scheme is one of Ireland’s most practical and founder-friendly funding tools. By giving entrepreneurs a way to access their past income tax payments, the government effectively lowers the financial barrier to starting a business.
If you’re planning to leave full-time employment to set up your own company, this scheme could refund thousands of euros you’ve already paid in tax—giving you a strong financial foundation from day one.
And once you’ve unlocked that capital, make it count. Focus on building something people need, surround yourself with the right expertise, and invest in making your brand visible to the right audience. That might mean refining your product, launching a targeted campaign, or partnering with a trusted SEO agency in Dublin to help you reach and convert early customers. Smart choices at the start can lay the foundation for long-term, sustainable growth.
