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From a company law perspective, if you set-up a NewCo in Northern Ireland as a subsidiary of your Irish company, the Irish company may lose its entitlement to audit exemption (assuming it was audit exempt prior to this) as the Irish company is now part of a “group” for company law purposes.

Group companies are only entitled to audit exemption if the combined group fulfils at least two of the following criteria;

  • Balance sheet total not exceeding €4.4m
  • Turnover not exceeding €8.8m
  • Employees not exceeding 50

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