Irish Company Year-End Checklist

Start the company year-end review about 60 days before the accounting period closes. First clean and reconcile the records, then estimate the full-year result and Corporation Tax position, and only then consider genuine commercial decisions that need advice before year-end. Do not wait until the later CT1 filing deadline: some evidence and choices are much easier to deal with while the period is still open.

Why the review needs to happen before year-end

A year-end is not merely a date for producing accounts months later. It is the point at which the company closes a reporting period. Before it arrives, directors can identify missing records, understand likely profit and cash requirements, and seek advice on transactions genuinely under consideration.

Revenue’s Corporation Tax guidance separates preliminary tax obligations from the later CT1 return and balance payment. The exact due dates and calculation basis depend on the company’s circumstances, so check them directly with the company’s accountant and current Revenue guidance.

60 days before year-end: establish the position

1. Confirm the timetable

Write down the accounting year-end, expected accounts completion date, preliminary Corporation Tax date, CT1 and balance-payment date, CRO annual-return date, board or lender deadlines and the internal owner of each task.

2. Reconcile the core records

• all bank, card, merchant and loan accounts;
• sales and purchase ledgers;
• payroll control accounts and Revenue liabilities;
• VAT, RCT or other relevant tax balances;
• fixed-asset records and finance agreements; and
• intercompany or director balances.

3. Review debtors and creditors

Examine old, disputed or duplicated balances. Record collection actions and identify genuine bad debts for adviser review. Confirm supplier statements and unrecorded liabilities rather than simply clearing balances to make the ledger look tidy.

4. Review stock and work in progress

Plan how quantities and condition will be recorded at year-end. Identify slow-moving, obsolete or damaged items. Service and project businesses should agree a consistent method for assessing incomplete work.

5. Prepare a full-year forecast

Use actual results to date plus a realistic forecast for the remaining period. Estimate trading profit, cash at year-end and upcoming tax, payroll, supplier and finance payments. Give the adviser enough time to question assumptions.

30 days before year-end: review decisions

Capital expenditure

List equipment, vehicles, systems or fit-out work genuinely required. Confirm the commercial need, timing, ownership, use and cash effect. Capital expenditure is not normally treated like an ordinary day-to-day expense; capital allowances may apply under specific rules. Obtain advice before relying on a tax outcome.

Repairs, renewals and projects

Separate routine repairs from improvements or new assets and keep contracts, invoices and evidence. The accounting and tax treatment depends on facts, not the label used on an invoice.

Director remuneration and pension decisions

Review salary, bonus, benefits, expenses, pension proposals and director current accounts with the appropriate adviser before anything is approved or paid. Payroll, deductibility, pension, benefit-in-kind and company-law issues can all matter.

Losses and group matters

If the company expects a loss, or belongs to a group, ask what relief may be available and what conditions, ownership tests, claims or deadlines apply. Do not assume a loss will automatically produce an immediate repayment or can be moved between companies.

Close-company issues

Ask whether the close-company rules are relevant, including the treatment of certain undistributed income or loans and benefits involving participators. This is a specialist review based on the company’s facts.

Unusual transactions

Flag disposals, acquisitions, grants, insurance proceeds, foreign transactions, related-party arrangements, restructurings, settlements and significant contracts. Provide the documents and commercial explanation—not only the bank entry.

Final 10 days: close the gaps

1. Chase missing invoices, receipts, statements and contracts.
2. Confirm the cut-off process for sales, purchases, stock and work in progress.
3. Update the forecast with actual information.
4. Resolve or document unreconciled balances.
5. Confirm any decision already approved and retain supporting minutes or agreements.
6. Circulate a written responsibilities list with owners and dates.
7. Book the post-year-end close and review meeting.

What should you send your accountant?

• access to complete bookkeeping records and a final trial balance;
• bank, card, loan and merchant statements;
• aged debtors and creditors with notes on disputed items;
• stock and work-in-progress records;
• payroll reports and tax-account reconciliations;
• fixed-asset purchases, disposals and finance documents;
• director-loan and related-party information;
• new leases, loans, grants, contracts and legal correspondence;
• details of unusual or non-recurring transactions; and
• a clear list of missing information and unresolved questions.

A simple responsibility table

Questions for the year-end meeting

1. What information is missing and who will provide it?
2. What is the current full-year profit and cash forecast?
3. What preliminary Corporation Tax amount and payment date apply?
4. Which balances or transactions require evidence or judgement?
5. Are any genuine decisions still time-sensitive before year-end?
6. What work is included in the engagement and what is outside it?
7. When will draft accounts, tax calculations and final returns be ready?
8. What should change in the bookkeeping or monthly reporting next year?

Frequently asked questions