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…Continue
Added by Anthony Andre on March 30, 2016 at 12:30 — No Comments
I have come across two instances when HMRC have accepted that the CIC is not trading for tax purposes. It issometimes a bit difficult to contact with HMRC but if you are a not for profit CIC it may be worth the effort
Added by Dick Maule FCA on March 22, 2016 at 10:25 — No Comments
We are looking to register a CIC to offer sport in the community, and have a youth football club(N/P) that would like to be with us and for our directors to manage the club, however the club wants to retain its name is this possible I assume would be a subsidiary of our CIC.
Any views comments please
Hi - We have been incorporated as a CIC since 2012. Recently we were asked whether we has an asset lock in place. I had assumed this was just an integral part of our governance. However I now feel we should perhaps have a specific entry in our constitution. It is actually quite a useful question at this time as we are hoping to get a new van & upgrade our IT and so forth. How have other CICs handled this issue?
CICs are subject to the important company law changes coming soon. One of the most important (and the most difficult to deal with) is the obligation to find out 'persons with significant control' and report their details to Companies House.
From 6 April a CIC has a legal obligation to find out who its PSC are and to make a Register of PSCs.
The scope of these new rules is wide and they are very complex (the draft non-statutory guidance runs to 86 pages!).
From 30 June…Continue
It is well documented that the populations of the UK Bumble and Honeybee colonies are already in decline, we believe that unprecedented local flooding events in December 2015 has added to this problem with a potentially devastating impact on pollinators and the wider farming community and wildlife…Continue
Added by Tree Bee on January 29, 2016 at 19:16 — No Comments
I am proud to be part of the CIC Association since 2011 and its groups. I would like to take the opportunity thanking you, in particular, those of you time to time offer us generous help through up and down as our CIC venture has been progressing. I am so grateful to have had this opportunity and would like to send my deepest gratitude to John Mulkerrin, Heidi Fisher, Phillip Howrrell, Geof Cox, Robert Ashton. Wishing you all a very happy and prosperous new year 2016. yours Subrata, Women's…Continue
Merry Christmas to all friends and supporters of CICs and community enterprise.
Proud to have been part of the CIC 10th Anniversary celebrations this year (some reflections follow below) and looking forward to the next decade!
Issues and challenges for CICs in accounting for social impact
Figures never tell the whole story – numbers by themselves are never enough. Telling the people stories well really makes a…Continue
Added by Cecile Gillard on December 23, 2015 at 11:12 — No Comments
Added by Michael Bird on December 10, 2015 at 11:05 — No Comments
Is it absolutely necessary for a CIC that puts on outdoor events and employs people on freelance contracts to have insurance for the company?
Myself and two other directors have a CIC and wish to slightly changes its aims to allow us to carry out additional but very similar activities for the community. Do we need to notify the regulators office to be able to make changes? I can't get a reply or a call back from them when I try. Thanks.
Added by linda mckechnie on October 23, 2015 at 12:17 — No Comments
Falkirk Family Support Community Interest Company’s mission is to offer free independent advice, guidance and support to Falkirk District’s most vulnerable bairns, young people and families including those supporting older relatives at the time when they identify support is needed. Falkirk Family Support has a mixture of volunteer and family support workers offering assistance depending on circumstances and needs.
Falkirk Family Support strongly believes in equality,…Continue
Added by FALKIRK FAMILY SUPPORT CIC on October 16, 2015 at 13:37 — No Comments
I write wearing two hats!
I run two distinct member networks.... 1. is First Tuesday in Nottingham and First Thursday in London. These meet monthly and have a mailing list of over 1000 organisations.
2. (my day job) is OurCamden. This is a member (CIC) organisation that seeks to reduce social isolation and loneliness (www.ourcamden.org)
I am looking for deals for members of both…Continue
Added by Graham Gardiner on September 3, 2015 at 14:06 — No Comments
Im new to this site I was wondering if anyone knows what the rights are of employee members are I cant seem to find any information anywhere
If you are a CIC looking for investment in products or services that will make a real difference to the…Continue
Added by Nick Comley on August 11, 2015 at 16:07 — No Comments
Preloved.co.uk are offering free 'Business' membership to all registered CICs.
Simply create a FREE member profile, contact the fabulous Customer Care team, give them the email address you registered with, they'll verify CIC status, and then they'll manually upgrade you. Free of charge.
Whilst registered charities have always been eligible for free advertising on Preloved.co.uk,…Continue
Added by Tina Hidderley on August 11, 2015 at 15:00 — No Comments
Can anyone recommend a solicitor or accountant (near Lewes, East Sussex, for preference) well versed in Community Interest Companies and the like to guide us as we set up a small district scheme as a CIC, please?
Added by Nick Lear on May 21, 2015 at 15:30 — No Comments
Very new to this. I am looking at converting a Charity to a CIC. Does anyone have experience of this please.