The limited by shares company has a social enterprise element as our aims and objectives are primarily helping the community through concession price and employment etc. Can we be a limited company and social enterprise or is it easier to have a CIC???
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Social enterprises predate CICs so of course it's possible. The only snag is that the company's assets are owned by its shareholders so ultimately there's a potential private benefit which may put off donors, supporters, funders etc (unless there's a particular constitution or ownership structure to this company)
I'd get professional advice if I were you... (starting with legal rather than accounting)
Also if you have adopted the model articles then the directors can choose and change the company's objectives at any time, which means any support received is at the directors discretion.
CIC would mean no corporation tax payable and gift aid on donations.
So you may want to rethink your plans if you didn't mean this company to be for private benefit...
CIC would mean no corporation tax payable and gift aid on donations.
Neither of those statements is correct.
Sorry I got my CIOs mixed up with my CICs. Shouldn't have posted before coffee.
Apologies for the confusion.