CIC Association

Serving Community Enterprise

Hi, I run an arts and crafts CIC in Cornwall and also help a couple of theatre based CIC`s with their accounts on a voluntary basis. I am AAT Level 4 and a qualified bookkeeper.

I have drawn up accounts, profit and loss and balance sheets for myself and for a theatre company that works with disabled children.

I have gone on the HMRC gateway to file my returns but cannot figure out where to put things like workshops, costumes, venue hire,sound and lighting etc..

I have found general administrative expenses which doesn`t cover it.

I have phoned up HMRC and they are going to get a tax advisor to call me back in the next week but I thought I would ask in case anyone else had this problem.

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Replies to This Discussion

Hi Louise,

Based on what the CIC does, I am thinking direct costs/cost of sales. 

However, make sure there are no capital expenses in there which would need to go to the balance sheet and be depreciated.

Hope that helps?


Hi Andy,

I think you are probably right. It just shows though when you do accounts for a CIC what a strange sort of hybrid animal it is, a strange cross between a charity and money making venture. In accounting terms a bit of a monster!

I will keep you informed if I ever get a call from the tax advisor.





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