For any accounting related queries, including accounts software package questions, grants and trading income treatment, HMRC or Companies House queries/issues, tax reliefs for CICs, links to useful finance information etc
Latest Activity: May 17
Hello allMy pro-bono CIC client incurred capital spend in their first year when all income was grant funded. They didn't spend all the grant so I used your helpful tip elsewhere to take only the…Continue
Started by Paul Johnson. Last reply by Paul Johnson May 17.
Really new to all of this so sorry if this all seems obvious. How do i set up paying the directors and how do i set wages. Is it better to set wages low for the first year and the raise them or have…Continue
Started by Brendan. Last reply by Alastair Irvine May 13.
not necessarily. Its complex. Some general principles:- A Grant will start out life as being a taxable receipt of a CIC. Unless you can think of a clever wheeze it will remain taxable. This is the…Continue
Started by Alastair Irvine. Last reply by Paul Johnson May 13.
Canvassing for opinion - aware that donations to CIC's are liable to corporation tax but would a donation to a CIC be subject to VAT. Opinion given to us suggests that is counted as such but I…Continue
Started by Rachel Gardiner-Hill. Last reply by Rachel Gardiner-Hill Mar 16.
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