CIC Association

Serving Community Enterprise

As a CIC our year end is 31st March, some of the work we undertake is based on an academic year. We have been told by the accountant that at the end of the financial year any money left over (profit) is due for Corp Tax, even though the money is restricted to a project, one of these projects is ongoing. Is this true and if so is there a way round it.

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Comment by Chris Dennis on January 6, 2011 at 23:26
Can you explain the possible circumstances where grant funding is non-taxable.
Comment by Heidi Fisher on September 22, 2010 at 16:07
I would need some more information - but if the income is grant funding, this can be treated as non-taxable in many cases. If you send me some more details I can answer this more fully based on your individual circumstances.

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