What you should know about Community Interest Companies
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- เผยแพร่เมื่อ 22 เม.ย. 2021
- In this video I outline the tax implications of Community Interest Companies and why you might want to consider making you business a CIC.
For further information please take a look at our website www.theaccountancypeople.co.uk where you can ask a question to James and the team
#tax #cic #socialenterprise #uktax
Thanks ..helpful information.
Thanks
Thank you, that was very helpful 🙂
I agree with @jmulkerrin, this should be taken down. From as early as 1min 55secs this video INCORRECTLY explains the tax position and differences, forgetting that dividend is an after-tax profit so the 20% he says Ltd company structures save via offering dividend is actually paid over in corporation tax so the net effect saved is a lot less if any and will vary also based on your personal position eg; Basic Rate or Higher Rate. For anyone listening, I would seek alternative advice and take some TH-cam videos with a pinch of salt.
Thank you for the video. When opening a CIC what does it mean by recipient of the company’s assets? Thanks
Thanks for the video. What is a Upload CIC articles of association?
Hi. Thank you. I am setting up a charity but don't want to go through the normal route.. Possible to set up a foundation that does charitable work without a CIC or registered charity. It is a self funded model and no grants would be required.
Hi mate, very good and informing video, I am looking to set up a cic. Is there a way to get in touch with you? Thanks
Hello and good morning thank you for the video. I am opening a CIC and unsure who I can use for directors. I would be super grateful for some help. Thanks George
Id suggest you take this down, for an accountant to explain CIC like this is concerning. For eg, approx 75% of CICs are Limited by Guarantee and can't pay dividends. Most grant making bodies won't fund Limited by Shares, CICs can pay a reasonable % of their total profit via dividend (35%)...........not sure what your objectives with this video are but IMHO its one of the sloppiest I've seen
Hello and sorry to bother you. Where on the CIC forms do you put the directors? Thanks George
Thanks for the video. I have been studying counselling for a while and would like to open a start CIC so i start the process off becoming self employed. Not sure how to though.
Hi, where is it your based I’m in need for a counsellor for the youths I work with maybe we could join forces?..
Im in the process of setting up a cic and you seem like good conversation on understanding the details. Give me a message if you can🙌🏾
Can I change my cic by shares to an cio foundation
Can we file dormant accounts for CIC company Online?
A cic is not tax efficient... only plus point is if you apply fir grants.. if lucky...
Not worth while ... the hassel...
Can anyone tell me how to change a cic from a share holders company to a registered company please ?
Apparently, you can't swop over to a private company. You have to start over again.
Hi David, this may be too late now but you can convert a private company to a CIC - we have done this, check out form CIC 37
Hello and good morning I need one more director for my business and not sure why I can find one. Any help would be great. Thanks
What kind of business is it. And where in the uk are u base?
Hi how will we know if our company is a community interest company? Do we need to search company name in cic website to check, I tried but I did not find. Please help me with an example of searching a cic firm in the website.
A community interest company is called just that. Oldham theatre limited would be a normal limited company whereas Oldham Theatre CIC is a community interest company. The ltd or cic appears as part of their name at companies house .
@@jamessheard4235 Thank you James, it is really helpful.
@@jamessheard4235 my understanding was we will be selecting CIC drop down based on nature of the business.
@@gigabeats8115 it is normally a bit more time consuming to set up a cic. If you need help fill your details on the contact us form on our website
Hi, considering one. could you message?
Thank you, that was very helpful 🙂