HMRC allows companies investing in the field of research and development and fulfilling prerequisites of R&D claim to claim R&D tax credits and R&D tax relief without any restriction of the company’s size.
There is even a scheme specifically designed for Small and Medium-sized enterprises i.e SME Scheme, which enables small companies to claim R&D tax credits and R&D tax relief. HMRC is even more generous towards Small companies as it allows you to reclaim up to 33% of qualifying R&D expenditure, whereas large companies can only claim up to 13% of their qualifying R&D cost.
To qualify for SME R&D Tax Credits Scheme, the company should be
- Carrying our research and development project/projects
- Limited UK based company
- Have less than 500 employee
- Turnover limiting to £85 million a year
Hence, the size of your company does not matter.