Birthday:
January 18
About
What is your postcode?
NE4 9NB
Name of organisation (if any) you are associated with?
Madina Education Academy
Is that organisation a CIC?
No
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Comments
Avoiding tax on donations would suggest a charitable status is what you seek, but im not sure why you want to avoid the asset lock, please feel free to post a more detailed scenario on the forum which will help members respond, there are a few structures to choose from and it will depend on your own circumstances. Co-operatives for example, dont intrinsically have to have an asset lock.
As you are already in existence there are ways to ensure the value of the assets being transferred into the asset lock provide some return for the individual/group transferring them,such as loan agreements etc, again in reality everything depends on your individual circumstances.
Most options have pros and cons, ensuring you fully scrutinise all the options now will help avoid mistakes down the road.
Regards
John
Welcome, keen to hear your interest in CIC, hope you like what we're all about
Best regards
John