Director and trustee responsibilities, governance, asset locks, confirmation statements and regulatory compliance.
ALL UK businesses, trading or non-trading are required to submit a confirmation statement, formerly known as an annual return, to Companies House each year. All UK-registered businesses, including private limited companies, public limited companies, and community interest corporations (CICs), must… Read More ›
Are you a prospective Community Interest Company (CIC) or current CIC director looking for answers to whether your organization must have an asset lock? If so, this blog post is for you! Overview of the Purpose of a CIC and… Read More ›
The office assigned to regulate CICs is named, creatively enough, the Office of the Regulator of Community Interest Companies. “The Office of the Regulator of Community Interest Companies decides whether an organisation is eligible to become, or continue to be,… 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 ›
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 ›
Perhaps you are aware of all the troubles facing the world today. Maybe you decided this year that you will help solve the problem. This is excellent! Whether you want to solve world hunger or advocate for peace, we need… Read More ›
Should you use the CIC dividend cap? It’s a question a lot of directors and board members of CIC organisations have to ask themselves. The community interest dividend cap is there to help CICs remain community activist organisations. The primary goal… Read More ›
Have you ever found yourself wondering, “How many directors does a CIC need?” If so, read here for an answer to that question and more information about CIC Directors. Are you considering opening a CIC? If you’re considering it, let… Read More ›
As a community interest company (CIC) leader, it’s essential to understand the concept of the asset-locked body. An asset-locked body is an entity that has at least two shareholders—one with and another without voting rights. The CLA’s assets are “locked” in… Read More ›
Registered charities don’t succeed by accident, they take effective planning and volunteers working to the utmost of standards. The board of trustees carries the obligation to see that the charity operates effectively and efficiently. None on the board is more… Read More ›