CIC Association

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Geoff Holt
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John Mulkerrin commented on Geoff Holt's blog post More help and awareness needed
"Hi Geoff Indeed! The weird thing is surely the terms and conditions of the credit card allow for a limit and a monthly minimum repayment? I know it sounds odd but I would wait until the card arrives and look at the paperwork. Sometimes, individuals…"
Jun 19, 2016
Geoff Holt commented on Geoff Holt's blog post More help and awareness needed
"Dear John, many thanks for your response. In order;  HSBC did finally agree to providing a credit card but strictly on the terms that we repay outstanding balances in full at the end of every month. So this is more like an overdraft facility,…"
Jun 19, 2016
John Mulkerrin commented on Geoff Holt's blog post More help and awareness needed
"Hi Geoff Id certainly recommend re-posting in the Accounts Group, as many experts lurk there occasionally providing answers and lots of professionals offer their excellent services too if you need them. 1. I couldnt possibly understand what is…"
Jun 14, 2016
Geoff Holt commented on Geoff Holt's blog post More help and awareness needed
"Thanks for your comment Jane and John's quick reply. My post has been up for over a month with no response or help. I joined the CIC Assoc for some help or advice but not sure I have had either. John, can you comment or acknowledge the points I…"
Jun 14, 2016
jane elizabeth brook commented on Geoff Holt's blog post More help and awareness needed
"That was quick! Thanks."
Jun 14, 2016
John Mulkerrin commented on Geoff Holt's blog post More help and awareness needed
"Hi Jane Please have a look at contributors here: http://cicassoc.ning.com/group/accountsgroup Many can help you, good luck"
Jun 14, 2016
jane elizabeth brook commented on Geoff Holt's blog post More help and awareness needed
"We are a community group who received a large grant £75,000 to set up an orchard in our village in 2014. Set up was carried out over 4 months. We now have to submit our accounts and are finding it difficult to find out what we need to do and…"
Jun 14, 2016
Geoff Holt posted a blog post

More help and awareness needed

More help for CIC's.1  HSBC refuse to give us a business credit card because they insist we are a not-for-profit and MUST have a constitution whereas we are a CIC limited by guarantee with Articles of Association.2 HMRC state CIC's show profits and must pay Corporation Tax but as a CIC has a "surplus" that is ploughed back into our business not a "profit" for directors.3 99% of grant making trusts do not recognise CIC as having "charitable" objects whereas the Nat Lottery do?CIC regulator needs…See More
May 12, 2016
Geoff Holt is now a member of CIC Association
Feb 12, 2016

Profile Information

What is your postcode?
PO16 8SE
Name of organisation (if any) you are associated with?
Wetwheels Solent
Is that organisation a CIC?
Yes
If you have a website, what is your web address?
http://wetwheels.co.uk
Are you interested in representing a CIC at the CIC Association AGM?
No
Are you interested in working in partnership with the CIC Association?
Yes

Geoff Holt's Blog

More help and awareness needed

More help for CIC's.

1  HSBC refuse to give us a business credit card because they insist we are a not-for-profit and MUST have a constitution whereas we are a CIC limited by guarantee with Articles of Association.

2 HMRC state CIC's show profits and must pay Corporation Tax but as a CIC has a "surplus" that is ploughed back into our business not a "profit" for directors.

3 99% of grant making trusts do not recognise CIC as having "charitable" objects whereas the Nat…

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Posted on May 12, 2016 at 14:51 — 7 Comments

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