Company size threshold changes

On June 21 2024, Peter Burke TD, Minister for Enterprise, Trade and Employment, signed new legislation to alleviate the administrative burden and disclosure requirements for businesses. By adjusting company size thresholds to account for 25% inflation, this legislation marks a significant shift in how businesses are categorised and managed.

Starting July 1 2024, the European Union (Adjustments of Size Criteria for Certain Companies and Groups) Regulations 2024 ("EU Regulations") take effect, introducing increased company size thresholds. The balance sheet and turnover thresholds detailed in section 280 of the Companies Act 2014 (the "Principal Act") have been raised by 25%. This change means more companies can now qualify as micro, small, or medium-sized, benefiting from simplified reporting and regulatory requirements.

It's crucial to understand what these changes mean for your business and how you can fully take advantage of the new regulations. Download our guide to stay informed and prepared for the future.

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Company Size Criteria Update

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