A community interest company (CIC) is, of course, a completely different creature from a standard company. One way that sets them apart is when they enter ‘dormant’ status. What is ‘dormant’ status? Any company is defined as dormant by the… Read More ›
In this blog, we’ll look at what is required for your CIC’s annual accounts and give you advice on whether you should prepare your own reports. What are a CIC’s annual accounts? Other names for annual accounts include “company accounts,”… Read More ›
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 ›
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 ›
Irrespective of the size, every CIC needs to file a set of accounts and also to submit a CIC tax return (Form ct600) and we agree that CIC company accounts preparation, adhering to deadlines and producing them in iXBRL format… Read More ›
On 2 September, 2019, the Office of the Regulator of Community Interest Companies announced that most of the 17,000 CICs in the UK will be able to file their accounts online. “This on-line filing service can be used by small… Read More ›
“Pirates stole my accounts.”“A goat ate my accounts.”“I found my wife in the bath with my accountant.” According to Companies House, the above are just some of the stranger excuses given by companies for not filing their annual accounts on… Read More ›
Charity Accounts Trustees normally need to complete a charity’s annual return as soon as you approve its latest accounts and trustees’ annual report. Normally If your charity’s income is more than £10,000, by law, you must complete an annual return… Read More ›
Community Interest companies (CICS) A CIC is a special breed of a limited company which exists to benefit the community rather than its shareholders. Community Interest Accounts In addition to the initial Community Interest Statement, every CIC must file an annual… Read More ›
Many more companies will qualify as small as a result of the substantially increased company size limits. The new size criteria below is mandatory for periods commencing on or after 1 January 2016, although earlier adoption is permitted for financial years beginning on or after 1 January 2015 (the audit exemption cannot be early adopted): […]