What is the qualifying criteria for an SME scheme?
To be eligible for R&D tax credits under the SME scheme, your business must meet the following criteria:
- Have less than 500 employees
- Have an annual turnover of less than €100m
- Have a balance sheet total of under €86m
Note: The values are stated in Euros because the definition of SMEs was originally established via the European Commission. R&D tax credits however, have no affiliation with the European Union or any of its funding.