Author Archives

• Why it is important to choose ethical banking for your CIC

  By kgaccountantsblog on 30/01/2023 • ( 0 )

  

  The ethics of companies has become an increasingly important criteria for consumers to choose to do business with them. In the banking industry, many people are abandoning their old banks and moving money to ethical banks. Consumers have discovered that… Read More ›

• How do I employ someone in a CIC?

  By kgaccountantsblog on 24/01/2023 • ( 0 )

  

  Although a CIC (community interest company) is a hybrid of a for-profit corporation and a charity, many of the rules for employing people are the same as a regular company. In this blog, we’ll review some rules and laws governing… Read More ›

• Employment Contracts and CICs: A Guide

  By kgaccountantsblog on 23/01/2023 • ( 0 )

  

  Employment contracts are an important part of nearly everyone’s employment. It defines the work to be done, the compensation that will be paid, and how any issues or concerns will be handled. Often combined with company-wide policies found in employee… Read More ›

• How to pay yourself as a director of a Community Interest Company

  By kgaccountantsblog on 09/01/2023 • ( 0 )

  

  How do directors get paid (UK)? Being a director of a Community Interest Company (CIC) in the UK can be an incredibly rewarding experience. But if you’re going to be paid for your services, it’s important to know how the… Read More ›

• Annual CIC Statutory obligations & Rules

  By kgaccountantsblog on 12/09/2022 • ( 0 )

  

  Each year in the UK, the CIC regulator requires all community interest companies (CICs) to file reports with the Companies House to ensure compliance with laws regarding being a CIC. This allows the CIC regulator to keep the public records… Read More ›

• Moving your CIC Bookkeeping from a Spreadsheet to a System

  By kgaccountantsblog on 04/07/2022 • ( 0 )

  

  Moving your CIC bookkeeping from a group of spreadsheets to an integrated system is one of the best ways to ensure that your data is correct and your accounts are properly handled. Below is a short list of the reasons… Read More ›

• Mandatory Employee Benefits in the UK

  By kgaccountantsblog on 28/06/2022 • ( 0 )

  

  In the UK, many benefits are required for every employee. They‌ provide for the employees’ life now and their future. What follows is a brief look at the benefits that are required for every employee. It’s important to learn more… Read More ›

• June Roundup of Latest CIC and Charity Funding Advice

  By kgaccountantsblog on 27/06/2022 • ( 0 )

  

  We are approaching the end of June and we’re just loving the sunshine!! June’s list of the latest funding opportunities is exciting! These funds ‌help you successfully continue your mission doing great things for the community. Before applying, be sure… Read More ›

• File CIC34: community interest company report

  By kgaccountantsblog on 20/06/2022 • ( 0 )

  

  The CIC34 community interest company report is a mandatory annual report for all CICs in the UK. It informs the Regulator about your CIC, whom you serve, directors’ remuneration, and more. As with every company, CICs have to submit a… Read More ›

• Do CIC companies pay tax?

  By kgaccountantsblog on 06/06/2022 • ( 0 )

  

  The short is yes. Community Interest Companies (CICs) pay the same taxes as any other company. Also, Investment income, trading profits, and all other gains are taxable. CIC also pays Corporation Tax, completes a CIC Tax return, Pays VAT, just… Read More ›