Hi our mem and articles of association need reviewing and updating to add information regarding assests that are now owned by the CiC, are we able to get this advice from here or do we need to get…Continue
"Hopefully more learned members than me might give a better explanation, but in simple terms the 'executive' part is generally used to describe the carrying out of day to day functions.
The executive Director would carry out the day…"
Hi our mem and articles of association need reviewing and updating to add information regarding assests that are now owned by the CiC, are we able to get this advice from here or do we need to get full advice from solicitors?
You also have the option of leasing the property to the CIC, which would keep the property out of the Asset Lock.
Are you planning on selling the property to the CIC for less than market value? There is plenty of finance…"
"Hedi, thanks for the reply I think the CIC could get the investment/loan to purchase the properties. The properties could then be used for social housing. In terms of personal income and assets we would need to look into this. "
"Hi Mark, main issue is any increase in the property value would now be in the CIC rather than the limited company, where you could receive a dividend to take the profits out. In your CIC that would not be possible. Also the asset lock would mean if…"
Hi I have a Ltd company and i'm in the process of thinking about selling the assets to CIC, the Ltd company has property and the CIC would purchase the property. Can anyone please let me know what the possible pitfalls of this maybe?See More