If you’re preparing your first CIC tax return and feeling a knot in your stomach, you’re in good company. Most first-time Community Interest Company (CIC) directors hit the same moment of disbelief: “We’re not-for-profit… why am I dealing with Corporation… Read More ›
Many businesses begin as standard limited companies and only later realise that what they actually do is deliver real social or community benefit. This often becomes clear when applying for grants, working with local authorities, or wanting to protect a… Read More ›
Running a Community Interest Company (CIC) means balancing your mission with your responsibilities as a director. And one of the most important legal obligations? Filing your CIC accounts and annual report on time. It might sound like a routine task,… Read More ›
Are CICs Tax-Exempt? It’s a common misconception that CICs, like charities, are fully exempt from taxes. However, CICs are taxed in much the same way as regular companies. They are subject to Corporation Tax on their profits and, if they… Read More ›
Community Interest Companies (CICs) are a vital part of the UK’s social enterprise landscape, helping communities through projects that serve a social cause. However, like any other company, CICs must meet specific legal and financial reporting requirements to remain compliant…. Read More ›
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 ›
Setting up a Community Interest Company (CIC) has many advantages over either being a normal corporation or setting up a charity. A CIC is a hybrid between companies and charities in that it’s a company with a social mission, but… Read More ›
What is CIC36 form? It’s a necessity for any social enterprise that wants to structure itself as a community interest company. All CICs need to fill out the CIC36 form and submit it to the Regulator of Community Interest Companies…. Read More ›
The amount of people a social enterprise can reach is greatly affected by the type of organisation they choose. Their options come down to forming a registered charity or CIC company. Depending on the type of impact you want to… Read More ›
It’s that time again! We’re nearing the end of the year but there are still two months left in 2021. Community Interest Companies still have a lot of opportunities to impact their local community. Organisations are still providing funding as long… Read More ›