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CIC Accounts
CIC accounts, from people who understand what you’re for
Accounts, CIC34 community interest reports and corporation tax for Community Interest Companies. Specialist support for social enterprises.
Community Interest Companies sit in an awkward spot. You’re a company, so you have all the usual obligations. But you also have an asset lock, a community purpose and a regulator who wants to see evidence you’re delivering on it.
Plenty of accountants treat a CIC as just another limited company. That’s how the community interest report ends up as a rushed paragraph the night before the deadline.
What we do for CICs
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Annual accounts, prepared and filed with Companies House.
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The CIC34 community interest report — the annual statement to the CIC Regulator setting out what you’ve done for your community, who you consulted, and details of directors’ remuneration. It’s filed alongside your accounts, with a fee.
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Corporation tax returns. Yes, CICs pay corporation tax. Unlike a registered charity, a CIC doesn’t get automatic exemptions, and this surprises a lot of founders.
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Restricted and unrestricted funds tracked separately, so grant reporting isn’t a nightmare.
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Asset lock compliance, and the dividend cap if you’re a CIC limited by shares.
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Payroll and bookkeeping, if you’d rather hand over the day-to-day too.
The CIC34 is worth taking seriously
It’s a public document. Funders read it. Commissioners read it. Prospective board members read it. It’s often the first thing someone looks at when deciding whether to back you.
We’ll help you write something that genuinely evidences your impact — what you delivered, who benefited, who you consulted — rather than three lines restating your objects. It’s one of the cheapest bits of credibility available to a social enterprise and most CICs waste it.
Funders and grant reporting
If you’re grant funded, you’ll know that different funders want different things in different formats on different timescales. We’ll set your bookkeeping up so restricted funds are coded properly from the start, which makes those reports a matter of running a report rather than a week of detective work.
Thinking of setting one up?
We can talk you through whether a CIC is right for you or whether a charity, a standard limited company or something else fits better. Limited by shares or by guarantee, the asset lock implications, what it means for paying yourself. Better to have that conversation before you incorporate than after.