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Community Interest Companies

I have a potential CIC starting up and think I remember from some training last year that HMRC are going to change the rules regarding CT.... has anyone heard any more about this or is it still all quiet on the western front?

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I have not heard that one Babs

I think you must have been dreaming. As far as I know CICs are just odinary companies with an additional report (and I do follow these things).

You are not half remembering hearing about CIOs are you? 

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Thanks Chris, upon digging around (and after finding your reply as I did not get my usual email notification!) I think I am indeed thinking about CIO's. 

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Haven't heard anything about CT changes for CICs.  Essentially they have the same tax treatment as regular companies, as far as I am aware.

In some cases Mutual Trading may provide a way out of CT, but otherwise profits are going to be taxed.

 

 

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