Corporation Tax Act 2009 section 1122

"Large company"

Section 1122 defines what a "large company" means for the purposes of the R&D tax relief provisions in this Part of the Act.

• A "large company" is defined simply as a company that does not qualify as a small or medium-sized enterprise (SME)
• The definition is relevant because different R&D tax relief schemes apply to large companies compared to SMEs
• Whether a company is "large" depends entirely on whether it fails to meet the SME criteria — there is no separate standalone test
• This definition is based on the original legislation in paragraph 2 of Schedule 12 to the Finance Act 2002