"Hi Tanya
You said you'd registered as a sole trader. Was this with HMRC?
You can't "convert" a sole trader to a CIC, so you would need to form a CIC.
On the other hand, if you already have a company then you can convert this to a…"
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James Macfarlane replied to Tanya Hayter's discussion Which set up? in the group Setting up a CIC"Hi Tanya
Have a look at the step-by-step guidance on setting up a CIC at https://www.gov.uk/government/publications/community-interest-companies-business-activities/cic-business-activities-forms-and-step-by-step-guidelines
If you have specific…"
James Macfarlane replied to Hugh Dennis's discussion First Post in the group Setting up a CIC"Hi
The mobile version of this site works fine for me (and is what I'm using now).
It's hard to say without knowing exactly what issues your agents are having. Have they submitted papers which Companies House have rejected, and if so can…"
James Macfarlane replied to emily woldon's discussion Changing articles of association and number of directors in the group Setting up a CIC"Yes, of course"
James Macfarlane replied to emily woldon's discussion Changing articles of association and number of directors in the group Setting up a CIC"Hi Emily
All changes need to be approved by special resolution, you can't just tidy up the wording without going through the formalities. In your case I'd recommend doing all the changes at once using the method I mentioned above…"
James Macfarlane replied to emily woldon's discussion Changing articles of association and number of directors in the group Setting up a CIC"Hi Emily
Article 15.2 sets the quorum for directors' meetings at 2 but article 12 talks about the possibility of the company having a single director. I suggest you tidy up this inconsistency.
Otherwise I don't see any restrictions on…"
James Macfarlane replied to emily woldon's discussion Changing articles of association and number of directors in the group Setting up a CIC"Hi Emily
I'm happy to have a quick look if you can either upload here as a file or send to me via this Dropbox link.
James"
James Macfarlane replied to emily woldon's discussion Changing articles of association and number of directors in the group Setting up a CIC"An alternative is to pass a special resolution with the following text and the new articles attached to it.
The Articles of Association shall be altered so as to take the form of the Articles of Association attached to this resolution are in…"
James Macfarlane replied to emily woldon's discussion Changing articles of association and number of directors in the group Setting up a CIC"I've copied below an example resolution to amend the articles:
[COMPANY NUMBER]
SPECIAL RESOLUTION
of
[COMPANY NAME] C.I.C.
The following was passed as a written special…"
James Macfarlane replied to emily woldon's discussion Changing articles of association and number of directors in the group Setting up a CIC"Hi Emily
Yes, a CIC can change its articles of association. This is done by special resolution, so at least 75% of members must agree to it. The basic procedure for doing this is at the link below, but you'll need to check your current…"
James Macfarlane replied to Bakare Aliu's discussion CIC Benefits for Commercial Companies in the group Setting up a CIC"My understanding of SITR is that it's only for individuals (income tax and capital gains tax) and not available to companies.
The benefits for donating to a CIC are widespread, though, even if not directly financial. You could sort out a…"
James Macfarlane replied to Bakare Aliu's discussion CIC Benefits for Commercial Companies in the group Setting up a CIC"I'm not aware of any corporation tax relief for donations to CICs. Have a look at social investment tax relief, although this is only available to individuals and not…"
James Macfarlane replied to Sophie's discussion From 1 director to 3... in the group Setting up a CIC"Hi Sophie
I agree with Jemma. For director's duties, see https://www.gov.uk/guidance/being-a-company-director and also the CIC guidance at https://www.gov.uk/government/publications/community-interest-companies-how-to-form-a-cic. Yes, you can…"
James Macfarlane commented on David E Alexander's group Setting up a CIC"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…"
James Macfarlane replied to Beverley Smith's discussion Trying to decide which type of CIC would be best for use in the group Setting up a CIC"Hi Beverley
My advice is to go with a CIC limited by guarantee. CICs with shares are less common, and tend to be used where the CIC is looking to make a profit and pay dividends to the shareholders. From what you've said, I gather you…"
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Comment Wall (4 comments)
- At 7:22 on April 26, 2018,
Alex Thomson said…
Great. Thanks again.
- At 19:23 on April 25, 2018,
Hi James. Am I right in assuming that if you are a director, you don't have to register as a PSC by virtue of directors having significant control in their role?
- At 7:13 on April 25, 2018,
OK. It would seem that 3 directors will suffice. Many thanks James
- At 16:07 on April 24, 2018,
Thanks James. Do you think 3 subscribers would be enough for company credibility?
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