Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

SMEs definition

What does SMEs mean? In legal practice, SMEs refers to small and medium-sized enterprises—businesses below specified size thresholds—used to determine eligibility for particular legal regimes, reliefs and obligations. It is a descriptive term used across multiple contexts rather than a single universal legal definition. Specific definitions vary by regime: - Company law: the Companies Act 2006 sets thresholds for “small” and “medium-sized companies” that govern accounting, audit and filing exemptions in England & Wales, Scotland and Northern Ireland. - Tax and subsidies: UK schemes (for example, R&D tax relief and subsidy control) use scheme-specific SME thresholds. Always check the relevant legislation or HMRC/BEIS guidance. - Public procurement and...

SME participation in public procurement: rules, PPNs and practice under PCR 2015, with transition to the Procurement Act 2023

Published by a LexisNexis Public Law expert

Practice notes

FORTHCOMING CHANGE:

From 24 February 2025, the core provisions of the Procurement Act 2023 (PA 2023) take effect. Any procurement launched on or after that date must follow PA 2023, while procedures commenced under the earlier regimes—the Public Contracts Regulations 2015 (PCR 2015), the Utilities Contracts Regulations 2016, the Concession Regulations 2016, and the Defence and Security Public Contracts Regulations 2011—must continue to be run and managed under those rules. See Practice Note: Introduction to the Procurement Act 2023.

PCR 2015 as assimilated law

PCR 2015 constitute EU-derived domestic legislation and therefore form assimilated law under sections 2 and 6 of the European Union (Withdrawal) Act 2018. For practical guidance on the status and interpretation of assimilated law, see Practice Note: Assimilated law.

FORTHCOMING CHANGE:

With effect from 24 February 2025, Procurement Policy Note (PPN) 015 replaces PPN 10/23 with updated guidance on assessing suppliers’ payment approaches when procuring major government contracts under PA 2023. From 1 October 2025, PPN 018 will replace PPN 015, reducing the average payment days threshold suppliers must meet to evidence effective payment systems that support reliable supply chains. See:

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Katherine Calder

DAC Beachcroft

Katherine is a Partner at DAC Beachcroft and heads the firm's Public Procurement Law team and chairs its Infrastructure & Projects group. Katherine has over 20 years’ experience of advising public bodies, utilities and the private sector on public procurement issues. Katherine has advised upon the procurement issues inherent within a wide variety of PPPs, PFIs, regeneration and outsourcing projects, across sectors and covering most aspects of local and national public infrastructure; from new homes, schools, energy facilities, roads to IT projects.Highlights over her career include numerous education, waste and housing PPPs/PFIs; the 2012 Olympic Games; the Thames Tideway Tunnel super-sewer; high profile defence agreements; the complex alliances and other significant partnerships for the National Highways, the Metropolitan Police, Thames Water, Transport for London, the Greater London Authority and many central government departments. She also advises private sector bidders on how to do their very best in...

Web page updated on 21/05/2026

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