Company law thresholds-Ireland
The size criteria for companies are laid down in the Companies Act 2014. The thresholds have been increased since July 1, 2024 with the European Union (Adjustments of Size Criteria for Certain Companies and Groups) Regulations 2024 (S.I. No. 301 of 2024) signed into law on the 19 June and coming into operation on the 1 July 2024.The Regulations transpose delegated Directive 2023/2775/EU
The purpose of the Regulations and the Directive is to adjust company size thresholds in line with 25 per cent inflation, thereby reducing the regulatory and administrative burden on some companies, which would otherwise become subject to audit and additional financial reporting requirements.
In October 2023 the Institute,as part of the Consultative Committee of Accountancy Bodies -Ireland responded to the European Commission request for feedback on adjusting SME size criteria for inflation .
Please see an Institute news item of June 24, 2024 on Increased size limits for Irish companies signed into law and click for the DETE announcement referred to in the news item.
The new criteria apply to financial years beginning on or after January 1, 2024. Companies may elect to apply the adjusted thresholds to financial years on or after January 1, 2023. This change in size will mean that more companies will move into the micro and small categories and will thus benefit through abridged reporting requirements and the audit exemption.
Certain companies specified in the legislation are excluded from the micro, small or medium company or group regime e.g.” ineligible companies” as defined in the legislation.
Reader’s attention is also drawn to the dormant company audit exemption where the requirements of section 365 of the Companies Act, 2014 are satisfied.
The new company thresholds are as follows:
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Size - company
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Old Thresholds
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New Thresholds
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Does not exceed two or more of the following criteria for current and preceding year
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Does not exceed two or more of the following criteria for current and preceding year
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Micro company
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Balance sheet total €350,000
Turnover €700,000
Employees 10
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Balance sheet total €450,000
Turnover €900,000
Employees 10
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Small company
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Balance sheet total €6 million
Turnover €12 million
Employees 50
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Balance sheet total €7.5 million
Turnover €15 million
Employees 50
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Medium company
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Balance sheet total €20 million
Turnover €40 million
Employees 250
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Balance sheet total €25 million
Turnover €50 million
Employees 250
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Large company: a company that does not qualify as a small company, a micro company or a medium company under the Companies Act, 2014 is deemed to be a large company (Section 280H Companies Act,2014).
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Size - group
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Old Thresholds
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New Thresholds
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Does not exceed two or more of the following criteria for current and preceding year
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Does not exceed two or more of the following criteria for current and preceding year
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Small group
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Aggregate balance sheet total €6 million net (€7.2 million gross).
Aggregate turnover: €12 million net (€14.4 million gross).
Employees 50
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Aggregate balance sheet total: €7.5 million net (€9 million gross)
Aggregate turnover: €15 million net (€18 million gross)
Employees 50
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Medium group
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Aggregate balance sheet total €20 million net (€24 million gross);
Aggregate turnover €40 million net (€48 million gross)
Employees 250
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Aggregate balance sheet total: €25 million net (€30 million gross)
Aggregate turnover: €50 million net (€60 million gross).
Employees 250
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These pages are provided as resources and information only and nothing in these pages purports to provide professional advice or definitive legal interpretation(s) or opinion(s) on the applicable legislation or legal or other matters referred to in the pages. If the reader is in doubt on any matter in this complex area further legal or other advice must be obtained. While every reasonable care has been taken by the Institute in the preparation of these pages, we do not guarantee the accuracy or veracity of any resource, guidance, information or opinion, or the appropriateness, suitability or applicability of any practice or procedure contained therein. The Institute is not responsible for any errors or omissions or for the results obtained from the use of the resources or information contained in these pages.
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