We want to set up direct debits on our website to collect membership fees. Does anyone have a recommendation? Thanks Continue
Started by Gwynneth Page Nov 22, 2020.
Hi. I've got a situation where two (very small) CICs have agreed to do a joint fundraising campaign for an urgent need where their purposes overlap (it involves a minority community in the…Continue
Tags: legal, issues., joint, campaign, fenced
Started by Nathanael Lewis May 31, 2020.
Dear all!I run a small CIC with very limited funds. Our numbers are simple and we have calculated a loss for the 2 years we have been running.Last year my family accountant did our accounts and was…Continue
Started by Aaminah Patel. Last reply by Louise poor May 21, 2020.
Hi - We are setting up a new CIC. It will be quite small scale employing one person part time. Income will be ~ £6/7K. There will be around 260 transactions per year. We want to keep costs down. In…Continue
Started by Pete Scott. Last reply by Louise poor May 21, 2020.
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Hi All
Allowable relief for contributions to an approved enterprise agency, does anyone have a good working knowledge? Section 84 Income Tax (Trading and Other Income) Act 2005
Is it 100% deductible?
I would also recommend Xero for the tracking of funds, you can create various layouts, you can import the budget from your spreadsheet into xero and great reporting. Also great that you can have levels of approval.
Hi Michelle
For record keeping, efficiency, Mgt info, tracking and reporting etc I'd recommend Xero. It's system we use for a nunber of our clients. Re payroll, that depends what experience you, or someone in your team has in running payroll &'operating PAYE.
Happy to have a more detailed chat & help you with any set ups, and send more info etc. As accredited Xero advusirs we can provide a discount off normal Xero price, and discuss payroll options.
Hooe this helps
Regards
Mahmood
Hi
We are a new CIC and I just wondered what accounting/Payroll package may be best for us to start (upto 10 employees)
Any advice gratefully accepted
Thanks
Michelle
It does many thanks.
Rachel
Hi
We are lucky enough to have a philanthropic individual who would like to donate monies yearly to our CIC over the next four years. Are there are problems associated with CIC's receiving donations per se?
Hi Rachel,
What's the nature and information that you are after. Based on the latter bit of your request, and as starter for 10 I've uploaded an article I wrote on Paying Volunteers and HMRC - link at the top of the page.
Regards
Mahmood
Hi
Can anyone offer any thoughts about where we can information about setting up a training bursary scheme within our CIC. We want to be able to help subsidise training for our volunteers that enable them to carry out their role so related. I recognise that there are HMRC regs around benefits in kind for volunteers but don't really know where to start. Thanks. Rachel
Hello everyone.
I am beyond angry and need to rant.
I spent hours - you all know how many - compiling the annual report, CIC34 and accounts. Our accountant checked everything over before it was sent.
On the end of the Directors' report I typed "report compiled by", printed my name, and signed and dated it. My name is also cited as the founding director on the headed paper on which we printed the annual directors' report.
I filed in plenty of time. Now, with only 5 days to go before deadline, I have received all the documentation back again, with the one line explanation ""The name of the signatory is not present on the Directors' Report".
It is debatable whether or not this is actually true, (see above). However, even if one accepts that I am stupid and have neglected to understand the exact precise wording which is acceptable to Companies House in this matter, haven't these people got better things to do than enforce the tiniest letter of their law on people who, after all, are spending hundreds of hours per year, for free, trying to make life better for their community?
What magic formulation of words should I use? "Signed by"? "Print name"? At this point, I'm open to anyone's guesses!
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