This is a tax incentive for those with PAYE income to start up a new business and become a director and/or employee of the new business.

The business must be established through a company.

The refund available will depend on the amount of capital you invest in the new start-up company.

The refund will be of PAYE income tax previously paid.

There is no refund of PRSI or USC previously paid.

The refund available is up to 41% of the capital you invest in the new company.