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What is the qualifying criteria for an SME scheme?

To qualify for SME status and be eligible to claim R&D tax credits, you need to meet the following criteria: 

  • Less than 500 staff 
  • A turnover of under €100 million 
  • Or a balance sheet total of under €86 million 

Wondering why the values are in Euros? Well, the definition of SMEs was originally established by the European Commission. However, it’s worth mentioning that R&D tax credits have no affiliation with the European Union or its funding in any manner, irrespective of the origin of the SME definition.

Other Topics

Accounting and finance Eligibility criteria HMRC enquiries Qualifying expenditure R&D tax credit scheme RDEC scheme SME scheme The claim process The outcome

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