Community Interest Company (CIC)

This service includes

  • Ready to Trade Company limited by guarantee
  • Companies House filing fee paid by us
  • Emailed PDF of Certificate of Incorporation
  • Emailed PDF of Memorandum & Articles of Association
  • Emailed PDF of Share Certificate(s)
  • Emailed PDF of Minutes of the first meeting of Directors
  • Emailed PDF of Statutory Books
  • Free Online Company Manager to Maintain your Companies
  • Free Online & Telephone Support for the Life of your Company
  • Web authentication code to update Companies House records

Optional Free Services

  • 1 hour consultation with Accountants. Either face-to-face or by skype.
  • Optional referral to a payroll bureau
  • Optional referral to bookkeeping and accounting bureau
  • Introduction to online accounting software with introductory benefits.

Optional extra

  • Printed certificates
  • Vat Registration
  • Registered Office
  • Business Telephone

Additional items available at checkout

You can add these items during the order process

Official Post Redirection Service
£ 1/yr.
Commercial Mail Upgrade
£48/yr.
Commercial Mail Upgrade-with Post Forwarding
£92/yr.
UK Post Box Service Upgrade
£72/yr.
Corporate Hijack Protection
£2/yr.
Telephone Starter Pack
£ 10.
Telephone Small Business
£20
Pre-submission Review
£ 2
Certificate of Good Standing
£30
Guaranteed Same Day Service
£23

Community Interest Companies

Community Interest Companies (CICs) are usually described as business enterprises with social objectives. A CIC’s profits and assets are used for the public good. CICs differ from Charities in many ways. In particular, CIC legislation allows social entrepreneurs to both control the company and to receive a salary.

Information about Community Interest Companies

Companies House have now changed their system for processing CICs. Accordingly, we are able to reduce our charge for this service to £77+vat.It should now take less than 1 week to register a CIC. The time taken will depend on how quickly you respond to our request for additional information regarding your application after you have placed the order. Once we submit your application we will keep you informed of its progress.

We will be automating the CIC ordering system further over the next few weeks to accommodate the new Companies House process.

The new CIC ordering system at Companies House will only apply to applications that have less than 5 officers of the company i.e. shareholders, guarantors and directors. If there are more than 5 the process will take 3-4 weeks. It is always possible to add officers after the company has been formed.

About Community Interest Companies (CICs)

CIC features which distinguish them from charities.

  • Unlike charities, CICs can undertake any trading activities they choose, subject to the normal regulatory restrictions.
  • CICs can pay their directors the market rate for their skills whereas charities face restrictions. This feature allows CICs to attract the best talent
  • SITR (Social Investment Tax Relief) is a special tax relief that is now available to donor’s who provide debt and equity funding to CICs. The last tax year (2014/2015) was the first time the relief became available.
  • Profit and interest can be paid to investors, subject to a maximum of 35% of distributable reserves.
  • CICs can issue performance related loans that pay interest based on their trading results. The interest is capped at 20%.

About Community Interest Companies (CICs)

CIC features which distinguish them from charities.

  • Unlike charities, CICs can undertake any trading activities they choose, subject to the normal regulatory restrictions.
  • CICs can pay their directors the market rate for their skills whereas charities face restrictions. This feature allows CICs to attract the best talent
  • SITR (Social Investment Tax Relief) is a special tax relief that is now available to donor’s who provide debt and equity funding to CICs. The last tax year (2014/2015) was the first time the relief became available.
  • Profit and interest can be paid to investors, subject to a maximum of 35% of distributable reserves.
  • CICs can issue performance related loans that pay interest based on their trading results. The interest is capped at 20%.

Features of a CIC being limited by guarantee:

  • 1 member 1 vote. Control is not concentrated.
  • No owners (shareholders), just members.
  • Because LBGs do not have a share structure, they can’t pay dividends.
  • LBGs are preferred by grant and funding providers because of the above features.

Features of a CIC being limited by shares:

  • Voting depends on each member’s shareholding
  • Easy to distribute a dividend, subject to the dividend cap.
  • Easier to issue shares in return for capital.
  • A Share structure is essential if the CIC has a holding company or is owned by a charity.

Approval by the CIC Regulator

To be a CIC, each company must be approved by the CIC Regulator. The Regulator will ensure that the asset lock provision is included in the Articles of Association. He will also require the following information about the CIC’s objectives and activities.

  • A clear definition of the intended beneficiaries of the CIC’s activities.
  • A description of the trading activities and any programmes intended to help the target communities.
  • Full details of the way the target community will benefit from the activities of the CIC.

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