Community Interest Company
A Community Interest Company is a non for profit organisation. It is a very useful entity for clients that are looking to provide something that benefits others and the stakeholders of the business.
It is a half-way house between a Limited Company and a Charity.
Charities are complex to set up, highly regulated and costly to maintain.
A CIC offers an affordable alternative without a lot of the complexity and cost of a Charity.
There are a few ways to set up a CIC. We would provide the best combination for you on incorporation.
A CIC can enable further access to grant and some state funding.
We would review your offering to see whether this entity would work for you.
We would prepare full accounts for the CIC. A set would go to HMRC and Companies House.
A CIC34 has to be submitted each year to Companies House to detail the activity of the CIC and there is a small filing fee to submit this each year.
The CIC pays corporation tax on any surplus profits. We would complete the tax return and submit this to HMRC and advise on the liability of the entity.