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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.

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