CIC Association

Serving Community Enterprise

Setting up a CIC

Information

Setting up a CIC

Guidance on how to set up a CIC especially where communities need to work together before they actually create the CIC e.g. collect funds commission work from advisors ahead of formation as some market testing or preparatory work

Members: 238
Latest Activity: Feb 17

Forms and Step by Step Guidance

Access the paperwork you need here:

  1. Form a community interest company (CIC)
  2. Form a community interest public limited company (community interest plc)
  3. Convert an existing company to a CIC
  4. Convert a charitable company to a CIC
  5. Convert an industrial and provident society to a CIC
  6. Convert a private company to a community interest plc
  7. Convert a public limited company (plc) to a community interest plc
  8. Change or specify an asset-locked body in the articles of association
  9. Insert, delete or alter a clause in the articles of association
  10. Alter the object statement of a CIC
  11. Change the status of a CIC to a community interest plc
  12. Convert a CIC to a charitable company
  13. Convert a CIC to an IPS
  14. Voluntary dissolution of a CIC
  15. File an annual CIC report and accounts with a £15 fee
  16. Contact CIC Regulator

Discussion Forum

Ethical Bank 2 Replies

Hello everyone, first of all, thanks so much for creating this space and these tools. I am brand new in these waters and I am trying to dive and swim as best as I can.Little foreword: We are in the…Continue

Tags: bank account, ethical bank, banking

Started by Giulia Baccosi. Last reply by Giulia Baccosi Feb 17.

"community" - can the community to benefit be based outside the UK? 2 Replies

Hi all,My partner is part of a local organisation in Devon with links to a rural village community in Zimbabwe. They are wanting to raise awareness and funds to support a tree planting project there,…Continue

Started by Tracey Wills. Last reply by Tracey Wills Nov 2, 2020.

Help Changing Model Articles to cater for Single Director 6 Replies

Set up a CiC this year to help local BAME communities with future intent of adding directors. Have adopted the model memorandum from Companies House. The Bank is unable to open bank account as the…Continue

Tags: director, single, articles, model

Started by Rehena Harilall. Last reply by Rehena Harilall Oct 25, 2020.

Registered Business address - what options are available? 8 Replies

Hello all CIC-ers.Thanks to the creation of this brilliant resource and community.We (Creative Arts Therapy CIC or CAT Devon CIC) are slowly establishing ourselves, and we're trying to work out how…Continue

Started by Farrow. Last reply by Farrow Oct 24, 2020.

Comment Wall

Add a Comment

You need to be a member of Setting up a CIC to add comments!

Comment by Chris Crowstaff on November 19, 2020 at 19:56

Do any of you know of an accountant in south west England who specialises in CICs..? or at least has experience with CICs?
Ideally somewhere in Dorset, Somerset or Wiltshire...?
I'm getting close to setting up a CIC but first of all want to make sure we have a reliable accountant.
(To register the CIC, we will of course need an address and would prefer to use the address of an accountant rather than our home address - hence needing to sort out an accountant before registering).
Also, do please let me know if there's somewhere else on this site that I could post my request, as well as in this group.
Many thanks for any help and advice!

Comment by James Macfarlane on May 23, 2018 at 22:07

Hi Elizabeth, as ever I would encourage you to create a 'discussion' for questions as it makes it so much easier to track replies than in comments. Probably the best thing to do is pick up the phone and call the funders you are looking to apply to. They will most likely confirm exactly what their requirements are, and are often much more flexible than it would appear from reading the requirements on their websites.

Kind regards

James

Comment by Elizabeth Hall on May 23, 2018 at 18:22

Dear All,

First of all I would like to thank those of you who contribute to the problem solving forum - you really ARE a blessing to all who come here!                                                                                                                So - we are awaiting confirmation of our conversion from a Ltd company any day now. Myself and my business partner are listed as the 2 Directors. We were about to apply for some funding when we came across a site that mentioned that these days most funders will reject applications  if there are not '3 non exec Directors who receive no benefits', to oversee the spending of the ring fenced money? My partner and I are new to setting up a business so we are complete novices. We have been thrown into a panic and wonder if anyone could confirm what we need to do so we can fulfil the criteria that funders demand?

Comment by Steve Mitchell on February 27, 2018 at 17:35

Cheers John, we set up the first CIC - Ive been a sole trader for many years so of course I managed to mess up the companies house by only sending my accounts to HMRC instead of CH as well, so just getting over those teething problems and wanting to get this bit right.  There will be one member the same and then some different ones ...

Comment by John Mulkerrin on February 27, 2018 at 17:02

Hi Steve

You can do it as an LTD or a CIC. It can be a subsidiary or separate, and the CIC can have an LTD subsidiary.

If you have them separate but run by the same people they will potentially be 'associated' for tax purposes https://www.gov.uk/corporation-tax-rates

Comment by Steve Mitchell on February 27, 2018 at 16:43

Hi I wonder if anyone can advise. I have a CIC which works with adults with disabilities through theatre across the midlands. One of my groups wants to set up a specific film group and I am wondering whether to set it up as a separate company (Ltd) with members on the board OR as a separate CIC, again with members on the board and Whether that film CIC can be a subsidiary of the main theatre CIC or has to be separate?

Comment by Ariane Mercurius-Taylor on February 7, 2018 at 10:26

Dear all,

I am a director of a Professional Body for Private Tutors and we are considering converting our company limited by guarantee into a CIC.  We are seeking funding so that we can expand our membership reach and assist with events during the year to benefit our community of Tutors which will serve to benefit the students we tutor,

  1. Would the Association would qualify to become a CIC?
  2. What grants or donations may be available to the Association a. as it is currently formed and b. if it was able to register as a CIC?
  3. Would CIC registration restrict the activities of the Association as a professional body?

I appreciate your feedback in advance.

Ariane

Comment by Sue Westwood on January 15, 2018 at 14:36

Hi all, I am in the process of completing INO1 form. Part 4, Statement of Guarantee. We are opting for Guarantee model.  Can anyone provide further guidance on Subscribers, are these all members (Directors, employees, secretaries etc). And my thoughts where that the asset lock covered any wind up costs, including which would be minimal liability for its members? therefore amount guaranteed should be? ... Thanks in advance. 

Comment by Hilary Sudbury on October 30, 2017 at 18:13

is it possible to convert from a CIC Ltd by Share to a CIC Ltd by Guarantee?

Comment by Trevor Saunders on July 25, 2017 at 12:59
Hello, I'm so glad I have found this group. Setting up a CIC. Ltd by shares or guarantee? Is their a difference in terms of being able to apply for grants ?
 

Members (238)

 
 
 

Groups

From Funding Central

Events

© 2021   Created by John Mulkerrin.   Powered by

Badges  |  Report an Issue  |  Terms of Service