With 5 colleagues I am engaged in and excited to be forming a CIC but I have a couple of queries.
Firstly, the question of asset tranfer .. ee .. or naming another organisation to which any remaining assets would devolve should your own CIC be dissolved.
We would like to name a relevant CIC with similar objects. We are a group of counsellors and our CIC will be operational in the North West in initially at least. Anyone volunteering??
Secondly, we are all currently self employed and don't intend to take salaries as Directors of our CIC at least until we are profitable. However, some of us (along with others) will submit invoices for payment to the CIC for services not related to our roles as Directors.
It would seem that this is OK except for our treasurer - who we hoped would also act as our book-keeper initially. We are hoping to avoid the additional complications and expense of a PAYE system whilst we get going. Is there a way for this to be managed which is of course also legally correct?
Thanks in advance for your advice.
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