Hi Just wondered if anyone could shed any light on whether we have to pay any kind of tax as we are a CIC who is just about to reach the threshold . We deliver educational activities to schools for the bulk of our work. Other programmes deliver work readiness programmes and Youth Clubs. thanks
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Hi Alistair.. I am also a CIC trading as a non profit organisation supporting children with challenges. We have been running for just over a year and I am having trouble with getting my head around Corporation Tax, I understand that this has to be paid if we go over the threshold but does this also include any grants that we have won. It seems wrong that grant money we receive will be taxable if in our bank at year end! I think we are able to accrue some of it but not all. Because of this, we are thinking about changing over to a Charity, do you have any expertise in this matter? I would truly love some support if possible. Many thanks
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