The Minister for Enterprise Peter Burke signed into law the European Union (Adjustments of Size Criteria for Certain Companies and Groups) Regulations 2024 which increases the balance sheet and turnover thresholds for ‘micro’, ‘small’, ‘medium’ and ‘large’ companies in the Companies Act 2014 by 25 per cent.
The legislation comes into effect from 1st July 2024 and the measures apply for financial years beginning on or after 1 January 2024, enabling companies to benefit from the adjusted thresholds immediately. Companies may elect to apply the measures on or after 1 January 2023.
To read the Regulations click here
NB: The content of this article is provided for information purposes only and does not constitute legal or other advice.
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