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HMRC internal manual

Corporate Intangibles Research and Development Manual

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HM Revenue & Customs
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R&D tax relief: legislative structure and time line: FA07 changes

SME definition

SME Relief was extended in relation to expenditure incurred on or after 1 August 2008. For the purposes of R&D relief a SME is a company which meets the normal conditions specified in the EU SME definition, except that it employs fewer than 500 persons and has an annual turnover not exceeding €100m, and/ or an annual balance sheet total not exceeding €86m. Companies satisfying this widened definition are entitled to R&D relief under the SME, rather than the large company, rules. (CIRD91900)