CIC Association

Serving Community Enterprise

Sorry published this as a comment when it probably should have been a discussion

Hi

Can anyone share their experience of managing reaching the trigger point for VAT registration as a CIC, we hadn't thought we would get to ti this financial year but it's approaching at the speed of an express train and we will have to do it soon. This is problematic for us as a counselling CIC as it runs counter to our social mission of providing affordable counselling as it will involve a further fees hike increase on the back of one we have just done annually. We recognise we don't qualify under healthcare professional exemptions but wonder how others have met this challenge.

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Replies to This Discussion

There's not much you can do about it if you are going to go over the threshold.  Things you can check you haven't included are grants as these are exempt from VAT and don't count towards the VAT threshold.  If you are regulated by the Health Professionals Council then the counselling would be exempt for VAT - but I'm guessing you aren't from what you have said above.

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