CIC Association

Serving Community Enterprise

Information

Setting up a CIC

Guidance on how to set up a CIC especially where communities need to work together before they actually create the CIC e.g. collect funds commission work from advisors ahead of formation as some market testing or preparatory work

Members: 213
Latest Activity: 13 hours ago

Discussion Forum

Changing articles of association and number of directors 13 Replies

Hi all,Can you tell me if a cic is able to make changes to its articles of association? and if so, how do you do it?Continue

Started by emily woldon. Last reply by James Macfarlane 13 hours ago.

CIC Benefits for Commercial Companies 3 Replies

If i was to ask an established commercial company to donate their services or products would they get any benefits for donating to a community interest company because i know they get some sort of…Continue

Started by Bakare Aliu. Last reply by James Macfarlane Dec 4.

From 1 director to 3... 3 Replies

I am currently writing up my CIC application (ltd by guarantee), but am discovering more and more than funding usually require 3 directors at least.I have a deadline as my community bookshop is due…Continue

Started by Sophie. Last reply by James Macfarlane Nov 23.

Governance 1 Reply

I am setting up my cic with 5 first directorsmy cic is ltd by guarantee with a small membership from what I understand directors are members and vice versahow do I govern my cic and what do I govern…Continue

Started by Bakare Aliu. Last reply by John Mulkerrin Oct 30.

Comment Wall

Add a Comment

You need to be a member of Setting up a CIC to add comments!

Comment by James Macfarlane on May 23, 2018 at 22:07

Hi Elizabeth, as ever I would encourage you to create a 'discussion' for questions as it makes it so much easier to track replies than in comments. Probably the best thing to do is pick up the phone and call the funders you are looking to apply to. They will most likely confirm exactly what their requirements are, and are often much more flexible than it would appear from reading the requirements on their websites.

Kind regards

James

Comment by Elizabeth Hall on May 23, 2018 at 18:22

Dear All,

First of all I would like to thank those of you who contribute to the problem solving forum - you really ARE a blessing to all who come here!                                                                                                                So - we are awaiting confirmation of our conversion from a Ltd company any day now. Myself and my business partner are listed as the 2 Directors. We were about to apply for some funding when we came across a site that mentioned that these days most funders will reject applications  if there are not '3 non exec Directors who receive no benefits', to oversee the spending of the ring fenced money? My partner and I are new to setting up a business so we are complete novices. We have been thrown into a panic and wonder if anyone could confirm what we need to do so we can fulfil the criteria that funders demand?

Comment by Steve Mitchell on February 27, 2018 at 17:35

Cheers John, we set up the first CIC - Ive been a sole trader for many years so of course I managed to mess up the companies house by only sending my accounts to HMRC instead of CH as well, so just getting over those teething problems and wanting to get this bit right.  There will be one member the same and then some different ones ...

Comment by John Mulkerrin on February 27, 2018 at 17:02

Hi Steve

You can do it as an LTD or a CIC. It can be a subsidiary or separate, and the CIC can have an LTD subsidiary.

If you have them separate but run by the same people they will potentially be 'associated' for tax purposes https://www.gov.uk/corporation-tax-rates

Comment by Steve Mitchell on February 27, 2018 at 16:43

Hi I wonder if anyone can advise. I have a CIC which works with adults with disabilities through theatre across the midlands. One of my groups wants to set up a specific film group and I am wondering whether to set it up as a separate company (Ltd) with members on the board OR as a separate CIC, again with members on the board and Whether that film CIC can be a subsidiary of the main theatre CIC or has to be separate?

Comment by Ariane Mercurius-Taylor on February 7, 2018 at 10:26

Dear all,

I am a director of a Professional Body for Private Tutors and we are considering converting our company limited by guarantee into a CIC.  We are seeking funding so that we can expand our membership reach and assist with events during the year to benefit our community of Tutors which will serve to benefit the students we tutor,

  1. Would the Association would qualify to become a CIC?
  2. What grants or donations may be available to the Association a. as it is currently formed and b. if it was able to register as a CIC?
  3. Would CIC registration restrict the activities of the Association as a professional body?

I appreciate your feedback in advance.

Ariane

Comment by Sue Westwood on January 15, 2018 at 14:36

Hi all, I am in the process of completing INO1 form. Part 4, Statement of Guarantee. We are opting for Guarantee model.  Can anyone provide further guidance on Subscribers, are these all members (Directors, employees, secretaries etc). And my thoughts where that the asset lock covered any wind up costs, including which would be minimal liability for its members? therefore amount guaranteed should be? ... Thanks in advance. 

Comment by Hilary Sudbury on October 30, 2017 at 18:13

is it possible to convert from a CIC Ltd by Share to a CIC Ltd by Guarantee?

Comment by Trevor Saunders on July 25, 2017 at 12:59
Hello, I'm so glad I have found this group. Setting up a CIC. Ltd by shares or guarantee? Is their a difference in terms of being able to apply for grants ?
Comment by caroline wheeler-evans on April 12, 2017 at 11:27

Hi I have finally got some advice on filling out my forms ! However could anyone help me in regards of what taxes are expected with CIC and what liability directors have should the company fold ? Thanks.

 

Members (213)

 
 
 

Groups

From Funding Central

Events

© 2018   Created by John Mulkerrin.   Powered by

Badges  |  Report an Issue  |  Terms of Service