"I am a unsure of what a constitution is. Is this the articles of association (AOA) or is it a separate document?
When funders ask for your constitution, are they asking for your AOA?"
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James Macfarlane replied to Bakare Aliu's discussion CIC Benefits for Commercial Companies in the group Setting up a CIC"My understanding of SITR is that it's only for individuals (income tax and capital gains tax) and not available to companies.
The benefits for donating to a CIC are widespread, though, even if not directly financial. You could sort out a…"
"Hello James
thanks for your quick reply after reading both your articles and doing my own research its talking about lending money or buying shares more than products or services. from what I have interpreted corporate companies will still…"
James Macfarlane replied to Bakare Aliu's discussion CIC Benefits for Commercial Companies in the group Setting up a CIC"I'm not aware of any corporation tax relief for donations to CICs. Have a look at social investment tax relief, although this is only available to individuals and not…"
CIC Benefits for Commercial Companies
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 tax relief when they donate to a charity but is it the same when they donate their services or products to a community interest company i dont want this to be confused with a cic tax relief i know that we operate as a normal company this is why am a lil confused
"Right, I think a good read through companies house website would really benefit you.
The template articles of association you submitted with your paperwork to become a CIC have all the basic rules as to how the CIC will be governed. Usually the…"
"Hi Bakare
The best thing to do is (dont expect everything to be right first time) list all costs that you anticipate in a 12/24 month period. This is a good place to start: https://www.gov.uk/write-business-plan. Business plan and forecasting…"
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 workSee More
"Hi Bakare - we are Communities Insurance Brokers, a fellow CIC - we are happy to give advice and assist with insurance queries. If you would like advice or a quotation please call me - Tim Cooper 07790 598080 - many thanks"
Profile Information
- What is your postcode?
- L8 6TR
- Name of organisation (if any) you are associated with?
- Merseyside IBD Group Community Interest Company
- Is that organisation a CIC?
- Yes
- If you have a website, what is your web address?
- http://www.merseysideibdgroup.co.uk
- Are you interested in representing a CIC at the CIC Association AGM?
- Yes
- Are you interested in working in partnership with the CIC Association?
- Yes
Comment Wall (1 comment)
- At 20:00 on October 25, 2018,
Tim Cooper said…
- Hi Bakare - we are Communities Insurance Brokers, a fellow CIC - we are happy to give advice and assist with insurance queries. If you would like advice or a quotation please call me - Tim Cooper 07790 598080 - many thanks
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