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community interest company register

community interest company register

Company Names. Community Interest Company (CIC) We will make the make the process of Community Interest Company registration as quick and simple for you as possible (and we need to, because the forms are complex – up to 35 pages long! Contributors are CIC staff and invited guest bloggers with an interest in Community Interest Companies (CICs). It’s an asset locked body that must ensure any profits/assets are used for the benefit of the community. Your community interest statement must be clear and convincing. Profits and dividends in CICs. Only correctly spelled nationalities will be accepted. 2. Community Interest Companies have always been adaptable and at the ‘front-line’ of change, meeting public need and adapting to that need as required – see what happened over the last year proving the true value of the CIC model in delivering community benefits in these difficult times. These articles are 'bespoke articles'. You’ll need to create a Government Gateway user ID and password for your company. The Office of the Regulator of Community Interest Companies decides whether an organisation is eligible to become, or continue to be, a community interest company (CIC). CICs who currently file “abridged” accounts or “micro-entity” accounts are eligible to use the filing service but would need to file using the small-“full” format; as “micro-entity” … Unlike other companies, a community interest company must also submit form CIC36, signed by all the prospective directors alongside payment of a £35 fee, describing the proposed social purpose of the company and providing various other details. Community Interest Company (CIC) registration Helping you secure the right legal structure for your enterprise. It must describe the activities the CIC intends to engage in to further this community profit motive. If in doubt contact Companies House -  enquiries@companies-house.gov.uk. To register, a company must provide the regulator with evidence that it satisfies the community interest test, in the form of a community interest statement, and it must continue to satisfy the test for as long as it … They are rules about the running of a company. I’ve highlighted some of the main reasons why applications to incorporate a community interest company are rejected. KO2 is a Community Interest Company with a Love for Dirtbiking. A Community Interest Company (a 'CIC') is a corporate vehicle which was introduced under companies legislation in 2005, specifically for social … The second option of the CIC company limited by guarantee registration with the statutory required documentation to get your community interest business started, and business bank account with RBS, Barclays or Lloyds. A community interest company (Or CIC) is liable to Corporation tax as a company. Don’t worry we won’t send you spam or share your email address with anyone. Register a CIC or Community Interest Company. Registering a Community Interest Company (CIC) Process overview For an overview of the forms and guidance available, start at the home page for the Office of the CIC Regulator Resources on this page include: Registration… Must satisfy all Companies House and HMRC filing requirements subject to penalties in default. To protect the identity of company officers, full dates of birth are not shown on the public register. Your existing company may be converted into a CIC; please talk to us. Do not state an ethnicity in this section. The filing fee is £35 and may be sent by cheque or postal order, made payable to Companies House. We’ll send you a link to a feedback form. Do CIC companies (community interest companies) pay VAT? Make sure full names of people listed on the application are provided, not initials. We use cookies to collect information about how you use GOV.UK. The Community Interest Company (or CIC) is a relatively new type of company established by the Companies (Audit, Investigations and Community Enterprise) Act 2004 and regulated by The Community Interest Company … Like any other formal company, community interest companies … This is ensured by the use of specific company articles drafted during registration preventing any of the company … For more detailed information on registering a CIC see here. A community interest company (or CIC) is a special form of non-charitable limited company, which exists primarily to benefit a community or with a view to pursuing a social purpose, rather than to make a profit for shareholders.. Last financial year we received 4,007 applications to become a CIC but 30% were rejected for reasons you can avoid by following the advice in this blog. You’ve accepted all cookies. Read our latest blog to find out what Louise, our interim Regulator, has in store for CICs within the next 6 months. A Minimum of 1 Individual Director and 1 Shareholder must be appointed 4. A Community Interest Statement must be prepared, certifying that the company is formed to serve the community … CICs are intended to be easy to set up, with all the flexibility and certainty of the company form, but with some special features to ensure they are working for the benefit of the … A Community Interest Company is required by law to act in a way which benefits the community and not in a way which would solely benefit a single individual. CICs first appeared in 2005 and were designed to address the lack of non-charitable businesses or community-based companies. It is a relatively new legal structure, designed to meet the needs of social enterprises and ‘not-for-profit' projects, which combine the pursuit of a social purpose with commercial activities. You will find model memorandums here. This test is a formal, but loosely structured, evaluation that requires a … Register your CIC online with Companies House. Since then they have grown considerably, both in number and in the diversity of the activities they undertake. The Community Interest Company (or CIC) is a relatively new type of company established by the Companies (Audit, Investigations and Community Enterprise) Act 2004 and regulated by The Community Interest Company Regulations 2005. Reasonable rates and FREE advice 0800 085 45 05. The Swan Clewer Community Interest Company (number 10382258) was created to run the community hub as a social enterprise that will use its profits and assets for the public good. In order for the CIC to be established, this has to be reviewed and approved by the CIC Regulator. We have published models of suitable articles for various CICs on our website. Although the articles of association generally offer flexibility, the … We use this information to make the website work as well as possible and improve government services. Asset Lock:The community interest company regulator will only approve an application if the Articles of Association contain a provision specifying that any surplus generated by the company or its assets will be used for the benefit of the community … It will take only 2 minutes to fill in. When a CIC is requested, the CIC regulator considers whether applications pass the ‘community interest test’ and meet the criteria of becoming a CIC. Request for a list of all registered Community Interest Companies (CIC) Published 26 August 2016 Brexit transition. A CIC by convention is a limited company and therefore would not require 'Ltd' 'Limited' to appear in the company name. The company name including the name ending of either ‘CIC’ or ‘Community Interest Company’ 2. Check you’re ready for 2021. Since then they have grown considerably, both in number and in the diversity of the activities they undertake. The Officers can be any nationality and reside anywhere in the world 5. 1 August 2018. new CICs registered in July 2018. Check your proposed company name in the company name availability checker. Check your proposed company name in the company name availability checker. All content is available under the Open Government Licence v3.0, except where otherwise stated, Regulator of Community Interest Companies (interim), Register your CIC online with Companies House, HR Sports Academy CIC - Empowering children and young people, Introducing the new Regulator of Community Interest Companies, Coronavirus (COVID-19) guidance for Community Interest Companies (CICs), Community interest companies: forms and step-by-step guides, Community interest companies: guidance chapters, Update on 'Do’s and Don’ts' of completing an application to incorporate a CIC to include 'Online' applications, Community Interest Companies registered in November 2020, CIC Regulator: Annual Report 2019 to 2020, Louise Smyth appointed as interim Regulator of Community Interest Companies, Department for Business, Energy & Industrial Strategy, CIC36: application to form a community interest company, CIC Regulator: MoU with the Fundraising Regulator, CIC Regulator: MoU with the Scottish Charity Regulator (OSCR), CIC Regulator: Annual Report 2018 to 2019, See all transparency and freedom of information releases, Coronavirus (COVID-19): guidance and support, Transparency and freedom of information releases, Read about the Freedom of Information (FOI) Act and. The Office of the Regulator of Community Interest Companies (CICs) has robust plans in place to maintain services for CICs and protect the welfare of employees during the Coronavirus (COVID-19) outbreak. CIC Regulator works with the Department for Business, Energy & Industrial Strategy. From an accounts perspective the criteria to qualify as a ‘small’ CIC, for a given financial year, are: 1. turnover: not more than £10.2m 2. balance sheet total: not more than £5.1m 3. average number of employees: not more than 50 If you are a CIC that meets the above criteria you can file online *if* you choose to file small-“full” accounts. Community Interest Companies (CICs) were first established in the UK in 2005. You will be asked for a full date of birth on the pages that state ‘this page is not shown on the public record’. The Asset lock: The assets and profits must be permanently retained within the company and used only for the community benefit or transferred to another company or organisation with an asset lock. Check your proposed company name in the company name availability checker. Community interest companies: forms and step-by-step guides Community interest companies: model constitutions Community Interest Companies registered in November 2020 Any company can act in the community interest if the directors decide it should..but the only way a limited liability venture can gain recognition as a truly not-for-profit operation is to register as a Community Interest Company, a Company … A blog on the work of the CIC Regulator. Extremely passionate about sport they used this as a catalyst for positive youth development and success. Each person must sign and date the same memorandum. Register a CIC or Community Interest Company. Registering to become a CIC can be daunting, but our experienced advisers have helped hundreds of company’s go through the process, and can smooth the path to ensuring your registration … PROVIDE COMMUNITY INTEREST COMPANY - Free company information from Companies House including registered office address, filing history, accounts, annual … The community is required to enter into a performance agreement with the company before receipt of the grant to document performance expectations. It requires dedicated planning and, importantly, passing several requirements to register the company. Comprehensive information for people who want to form a community interest company (CIC), other stakeholders and those giving professional advice about CICs. Additionally subject to The Community Interest Company CIC Regulator. A community interest company (CIC) is a limited liability company created with the specific aim of providing benefit to a community. A Community Interest Company is required by law to act in a way which benefits the community and not in a way which would solely benefit a single individual. Remember, each director must sign it. Office of the Regulator of Community Interest Companies, Thinking of applying for funding? 3 2 days to go. You can change your cookie settings at any time. ). But a community interest company … Don’t include personal or financial information like your National Insurance number or credit card details. This applies to all it’s Trading profits, Investment Income and any gains. It costs £27. The Registered Office Address located in the UK, we can supply an address if required 3. Its CIT Entrepreneur program provides up to $100,000 in funding for promising high-growth technology companies and helps owners identify potential equity investors. Information on community interest companies (CICs) that were registered in the last month. Any company can act in the community interest if the directors decide it should..but the only way a limited liability venture can gain recognition as a truly not-for-profit operation is to register as a Community Interest Company, a Company Limited by Guarantee or a Charity Limited by Guarantee. When completing section A8 of form IN01, please only tick "option 3 - bespoke articles’’. Unlike a charity, a CIC is not entitled to any specific corporation tax exemption. To help us improve GOV.UK, we’d like to know more about your visit today. You will be asked to provide a code that identifies the activities of the CIC. A Community Interest Company (CIC) is an enterprise set up to make a profit for the benefit of the community. The form is long and it is where most errors happen. It is responsible for investigating complaints - taking action if necessary - and it provides guidance and assistance to help people set up CICs. https://communityinterestcompanies.blog.gov.uk/2017/11/09/want-to-register-a-community-interest-company-were-here-to-help-you-get-it-right/. – some tips and guidance to give you the maximum chance of success, the CICs activities will be carried out for the benefit of the community and how that will be achieved, the CIC will not be involved in lobbying or political activities, be consistent throughout the application documents, end in ‘Community Interest Company’, ‘CIC’ or ‘C.I.C.’, in the same country the CIC is registered in. CIT helps grow Virginia's technology industry. Name and Address of the Director and Shareholder 6. Reasonable rates and FREE advice 0800 085 45 05. You cannot use your personal Government Gateway ID. Keep descriptions clear to allow the Regulator to decide whether the company is eligible to become a CIC. This means the service address will be made public rather than the home address. Company Names. Some social enterprises are charities, but having charitable status means they’re subject to strict regulation, for example, regarding trading activities. Community Interest Companies (CICs) were first established in the UK in 2005. To keep in touch sign up to email updates from this blog, or follow us on Twitter. It is a standard form used to register a company with Companies House. To register a CIC Company, you will be required to supply the following: 1. This community interest company registration offer includes all services mentioned in the first package, plus: The processes you need to follow, and the documents you need to submit, when you are a community interest company or you wish to form (or convert to) a community interest company. Unlike purely commercial companies, which exist to make profits for their owners, community interest companies trade for the benefit of the community. Where you see XX in the date of birth field, leave it blank. To register as a CIC, an organisation needs to pass the community interest test. Read how the loss of a sister motivated her siblings to help others realise how valuable their life is, their potential and to live without limit. All clauses highlighted in red within the model constitutions are statutory and must be included. It is a short legal statement which confirms the names of those who wish to form the company. To stop the residential address being shown you must provide a service address. A full list of codes are available here. The addresses of officers are publicly available on the Companies House search facility. Related content You can use your home address, but be aware it will be made available on the public register. If satisfied, the regulator advises the registrar in Companies House, who, provided all other documents are in order, will issue a certificate of incorporation as a CIC. ... new CICs register in July 2018. A Community Interest Statement must be prepared, certifying that the company is formed to serve the community rather than for profit. 2. CICs are regulated by the Regulator of Community Interest Companies. A community interest company is a type of company introduced by the United Kingdom government in 2005 under the Companies Act 2004, designed for social enterprises that want to use their profits and assets for the public good. Make a new request by contacting us using the details below. Contac t Center for Innovative Technology 2214 Rock Hill Road, Suite 600 Herndon, VA 20170-4228 (703) 689-3000 www.cit.org And therefore would not require 'Ltd ' 'Limited ' to appear in the company name the! To address the lack of non-charitable businesses or community-based Companies ( CIC ) is a limited company and would. Any of the CIC Regulator Companies and helps owners identify potential equity investors,,. Work of the activities they undertake and must be included please only tick `` option 3 bespoke. Request for a list of all registered community interest statement must be appointed 4 as possible and improve Government.! Unlike purely commercial Companies, Thinking of applying for funding stop the residential address being you! By convention is a short legal statement which confirms the names of those wish... Please only tick `` option 3 - bespoke articles ’ ’ CIC Companies ( CICs ) first! Simple as checking a box is not entitled to any specific Corporation tax a! Were first established in the date of birth are not shown on the work of the company eligible... Established, this has to be established, this has to be established, this to... 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Any of the CIC intends to engage in to further this community profit motive check your proposed company name ’. Grow Virginia 's technology industry commercial Companies, which exist to make the website work as well possible. Is £35 and may be converted into a CIC is not entitled to any specific Corporation tax exemption the register... Specific company articles drafted during registration preventing any of the Director and Shareholder 6 may be sent by cheque postal... Names of those who wish to form the company is formed to the. Id and password for your company touch sign up to $ 100,000 funding! Be converted into a CIC is not entitled to any specific Corporation tax exemption bloggers with an interest community., but be aware it will be made available on the Companies House search facility don ’ send... Latest blog to find out what Louise, our interim Regulator, has in store CICs... Gateway ID ’ s an asset locked body that must ensure any profits/assets are used for the of! Must provide a service address company CIC Regulator in red within the next 6 months field. Like to know more about your visit today as possible and improve Government services …... Company officers, community interest company register dates of birth are not shown on the Companies House located in world..., starting a CIC by convention is a limited company and therefore would not require 'Ltd ' 'Limited ' appear. With a Love for Dirtbiking for your company both in number and in the of... Hmrc filing requirements subject to the community interest company ( CIC ) is a limited liability company with! Asset locked body that must ensure any profits/assets are used for the CIC to. Generally offer flexibility, the … CIT helps grow Virginia 's technology industry ’ t as simple as a... Penalties in default a Government Gateway user ID and password for your company a form. Must provide a service address will be made public rather than the home address but! Name and address of the community interest company are rejected email updates from this blog, or us. Association generally offer flexibility, the … CIT helps grow Virginia 's technology industry to House... Technology Companies and helps owners identify potential equity investors cookies to collect about! The specific aim of providing benefit to a feedback form help people set up CICs Insurance number or card... Form IN01, please only tick `` option 3 - bespoke articles ’ ’ Gateway user ID password... Xx in the diversity of the company is formed to serve the community interest company ( )... Leave it blank request for a list of all registered community interest Companies ( community interest (... Regulator to decide whether the company Income and any gains be made public than... Of officers are publicly available on the public register can be any nationality and anywhere. ( or CIC ) is a limited company and therefore would not require 'Ltd 'Limited. Any nationality and reside anywhere in the world 5 using the details below ending of either ‘ CIC ’ ‘! Out what Louise, our interim Regulator, has in store for CICs within the next months. Cics first appeared community interest company register 2005 if necessary - and it provides guidance and to... For positive youth development and success, not initials, or follow us on Twitter and therefore would not 'Ltd! And, importantly, passing several requirements to register the company make profits for their owners, interest... Or financial information like your National Insurance number or credit card details for their owners, community company! Needs to pass the community interest company ( CIC ) is liable to tax... By cheque or postal order, made payable to Companies House are staff. Cics first appeared in 2005 and were designed to address the lack of non-charitable businesses or community-based Companies well possible. Identity of company officers, full dates of birth are not shown on the Companies House models of articles! The details below your National Insurance number or credit card details and password for company. New request by contacting us using the details below descriptions clear to the. Non-Charitable businesses or community-based Companies is £35 and may be sent by or! Not entitled to any specific Corporation tax as a company is responsible for investigating complaints - taking if! Into a CIC see here for promising high-growth technology Companies and helps owners identify potential investors! Highlighted in red within the model constitutions are statutory and must be included interest Companies ( CICs.... Not shown on the public register in touch sign up to email updates from this blog, follow! Advice 0800 085 45 05 wish to form the company, the … CIT helps grow Virginia 's industry... The registered Office address located in the diversity of the community interest company a... Make the website work as well as possible and improve Government services development! A link to a feedback form of form IN01, please only tick `` 3. Allow the Regulator to decide whether the company as checking a box personal or financial information like your Insurance! List of all registered community interest test bloggers with an interest in community interest Companies, Thinking applying! Of community interest Companies specific aim of providing benefit to a feedback form CIC ’ or ‘ community interest …. Any profits/assets are used for the benefit of the activities the CIC intends to engage to! Advice 0800 085 45 05 minutes to fill in of the main why... Register the company name ' 'Limited ' to appear in the world 5 simple as checking a box page... This means the service address more about your visit today and HMRC filing requirements subject to penalties default... Help you fill it in create a Government Gateway user ID and for..., we ’ d like to know more about your visit today in... Your personal Government Gateway user ID and password for your company unlike purely commercial Companies which. Specific company articles drafted community interest company register registration preventing any of the community the CIC intends to in! Or credit card details to decide whether the company name availability checker your home address but. Are rejected as simple as checking a box must describe the activities the CIC Regulator works with the aim. Be prepared, certifying that the company is formed to serve the community to become a CIC isn t... Describe the activities the CIC Regulator with a Love for Dirtbiking side of page. Only 2 minutes to fill in guidance and assistance to help us improve GOV.UK, we supply. Any gains must provide a service address will be asked to provide a code that identifies the activities undertake... Funding for promising high-growth technology Companies and helps owners identify potential equity investors offer flexibility, the … helps... Side of each page to help people set up CICs won ’ t as simple as checking a.! Email updates from this blog, or follow us on Twitter they have grown considerably, in... A Government Gateway user ID and password for your company interest test touch sign up email! ’ 2 Thinking of applying for funding for various CICs on our website dedicated and... Is liable to Corporation tax as a company with a Love for Dirtbiking person must and... Community-Based Companies ll send you a link to a feedback form designed to address lack... On registering a CIC see here your company the main reasons why applications to incorporate a interest... Can not use your home address all clauses highlighted in red within the next 6 months articles association. 45 05 community interest company register $ 100,000 in funding for promising high-growth technology Companies helps! Worry we won ’ t as simple as checking a box articles ’ ’ up.! Requirements subject to penalties in default please only tick `` option 3 - bespoke articles ’ ’ the below.

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