cic

This tag is associated with 2 posts

Are grants and/or donations vatable income?

HMRC says: “Income will be outside the scope of VAT if it is not payment given in return for a supply of goods or services. It is important to establish that an income described as grant or donation is actually an income that is freely given and the donor does not receive anything in return. … Continue reading

CIC in a nutshell

A community interest company (CIC) is a special type of limited company that exists to benefit a community or to pursue a social purpose. Pros: Its social/community purpose commitment is clear. Its assets are locked and only available to be used for the company’s social objectives, and it is regulated by the CIC regulator. These … Continue reading

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