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 ›
As a Community Interest Company (CIC) in the UK, submitting your accounts to Companies House and the CIC Regulator is an essential part of maintaining compliance with the law. Whether you’re filing your CIC accounts for the first time or… 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 ›
There’s a lot of confusion about how CICs and taxes work. Are CICs like charities with a special tax exemption? How does being asset-locked affect their taxation? What if the CIC donates to charity? In this blog, we’re going to… Read More ›
Community Interest Companies (CICs) in the UK are required to submit a CIC34 each year. All CICs registered in the UK are required to submit the CIC34, a document that contains vital information on the CIC’s operations and finances to… Read More ›