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.