Community Interest Companies

Options
zara5034
zara5034 Registered Posts: 170 Dedicated contributor 🦉
Hi All

Do any of you know anything about Community Interest Companies? I am wondering where they are classed, for example, are they sole traders, Ltd Co's, etc? I gather that they have directors like Ltd companies, so does that mean the Directors NICs are applied to the salary payments?

Any information would be appreciated!

Comments

  • RAS
    RAS Registered Posts: 124 Dedicated contributor 🦉
    Options
    CIC`s are sort of a half way house between a charity and a Ltd Co. Whist there are directors in a CIC they are limited to what salaries and dividends they can draw.

    There is alot of very good information on the CIC website that lists out all the pros and cons of CIC`s
  • deanshepherd
    deanshepherd Registered Posts: 1,809 Beyond epic contributor 🧙‍♂️
    Options
    In terms of legal structure it is a limited company registered at Companies House. Most are limited by guarantee although some do have restricted share capital.

    Most will be treated the same as any other non-profit making company with a few extra reporting requirements and restrictions.
  • PGM
    PGM Registered Posts: 1,954 Beyond epic contributor 🧙‍♂️
    Options
    They pay corporation tax, as far as I know?

    They have become popular because they give you more freedon than being a charity, as far as I know...
Privacy Policy