UK SMEs subject to new R&D tax relief status interpretation
This article was originally published in Clinica
Executive Summary
UK small and medium-sized enterprises (SMEs) applying for tax relief under Revenue & Customs' (HMRC) research and development (R&D) scheme and which lose their SME status through changes such as a merger or takeover are now treated as large companies for the entire accounting period. Prior to December 1 2008, from which date such changes take effect, SMEs had been able to retain their status throughout the accounting period.