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Charities and CICs

We are able to provide a vast range of accountancy services for charities and Community Interest Companies or CICs, including audits and accountancy, bookkeeping, payroll, management accountants, consultancy, tax advice and VAT management. We have vast experience when it comes to assisting clients in this niche area and have an in-depth understanding of the voluntary and community sector.

Bespoke Advice and Support

We are able to offer cost-effective solutions to meet a range of financial management and accountancy needs. We can assist you, whether you’re a new organisation or an existing charity or CIC seeking a new accountancy and finance service to take your forward. We offer bespoke solutions tailored towards your specific requirements and can come to your assistance, whether you’re in the process of expanding, or simply need extra help with your day-to-day operations.

New and Existing Organisations

For new organisations just starting up, we can help you establish your organisation in the most efficient manner possible, so you can hit the ground running and focus on doing what you do best. We can also help with donors’ reports, annual accounts, CIC reports, and avoid penalties for erratic reporting and late payments. We offer a friendly yet professional service, and are always able to devote the time and care your organisation needs from us to prosper or remain prosperous. Our clients range from vast global charities to local community groups, and we are always fully up-to-date with the very latest legislation around finance and tax.

Keeping You in the Loop

We always take the time to understand you and your charity, CIC or not-for-profit organisation so we can serve you in the most effective manner possible. We never keep our clients in the dark when there is important information to pass onto them, and when changes to legislation are made, we will always keep you updated to ensure you remain compliant with the law and avoid penalties.

A Wealth of Experience

We are able to advise you on a host of topics that are relevant to not-for-profit organisations, charities and CICs, including Gift Aid, SORP accounting and compliance, risk management, governance reviews, setting up charities and more. We have extensive experience in working with charitable organisations, clubs and associations, working in sectors such as sport, medicine, health, social care, conservation, faith, and housing.

Differences Between CICs and Conventional Charities

A Community Interest Company is a limited company with special features that has been set up to benefit a community rather than to primarily serve private needs. To become a CIC, a company needs to pass a community interest test and introduce an asset lock to show the organisation is genuinely tasked with serving a community and that assets and profits are dedicated towards this. The Regulator is responsible for approving applications by companies wishing to be given CIC status and is also tasked with monitoring such organisations. If you are interested in setting up a CIC,  we are able to assist with all steps of the application process, giving you the best possible chance of being approved.

More about CICs

There are several benefits attached to establishing a CIC rather than a charity. In a CIC, founders are able to retain extra control whilst taking a limited salary as opposed to charities managed by boards of trustees who cannot normally accept remuneration. The asset locks in CIC can make the organisations more attractive to donors. CICs can also be run in a more commercial manner. CICs are regulated in a less stringent manner than conventional charity and therefore do not need to adhere to certain requirements from the Charity Commission. If share capital is available, limited dividends can be paid out to shareholders. However, CICs cannot benefit from the same tax exemptions that charities can. We are always eager to speak to new clients whom we could advise on whether to become a charity or CIC.