CIC Association

Serving Community Enterprise

Geoff Holt
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What is your postcode?
PO16 8SE
Name of organisation (if any) you are associated with?
Wetwheels Solent
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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…


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

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