What else is included in our packages?
See our FAQs section or contact us if you have any questions.
Flexible support via
phone or email
Advice from qualified
Chartered Accountants
Reminders for
your important
deadlines
Updates from
the CIC Regulator
Latest accountancy
and tax insights
Statutory financial
and tax submissions
Xero™ online
access and mobile
app
Automated transaction
feeds for bookkeeping
Complete Accountancy Services
for Community Interest Companies
- Fixed monthly prices
- Dedicated and specialist CIC chartered accountants
- Completion of CIC forms and returns
- Simple award-winning accounting software
Our Packages
The packages below cover most bases for CICs, just pick the one that suits you best and we’ll do the rest.
Our fixed monthly payments allow you to spread the cost over a whole year. Don't worry, you can also tailor the packages below to add services such as VAT or personal tax returns as required.
- Annual CIC accounts, tax returns and confirmation statements
- Award winning Xero™ accountancy software
- Bookkeeping with Hubdoc™
- Support from qualified Chartered Accountants.
- Reminders for key deadlines
- Secure document portal
- Updates to Companies House and HMRC
- Fully managed transition from your current accountant
GOLD
The all-rounder package. Includes support for all of your CIC’s mandatory submissions and reviews
- All of the benefits of Silver plus…
- Xero™ Expenses add-on
- CIC bookkeeping transactions reviews
- CIC regulatory compliance support
- Compliance review of your “CIC 34” annual reports
- Annual tax efficiency reviews
- Support with adhoc HMRC queries
- Reference letters for your CIC
PLATINUM
Our most extensive package, let us take care of the accounting whilst you focus on what you do best
- All of the benefits of Silver and Gold plus…
- Xero™ Analytics add-on
- Creation and submission of your “CIC 34” annual reports
- Quarterly management account reports
- Comprehensive bookkeeping
- Funding application support and reviews
- Intelligent data clean-up toolkit
Why choose CIC accountants?
We help Community Interest Companies across the UK to thrive.
Accountants for CICs
Our accountants are more than just number crunchers. You'll get your own dedicated CIC chartered accountant who will work with you to understand your business and help you thrive.
Simple accounting software
Stay on top of the numbers. Track overdue invoices and payments with award-winning bookkeeping and accounts software by Xero™, available online and via mobile app. Anytime, anywhere.
All submissions covered
Never miss a deadline. We cover all submissions that you'll need to prepare and send to HMRC, Companies House, and the Office of the Regulator of Community Interest Companies.
Registered chartered accountants
Start and stay on the right track. Our chartered accountants will help you to be as financially viable and tax efficient as possible, whilst remaining in compliance with the latest CIC regulatory obligations.
Peace of mind
Select your desired services and relax. We’ve designed comprehensive packages to meet your needs. This helps to spread the cost of having a year-round accountant and avoid any unexpected costs or surprises.
Reliable advice and support
Get up to date insights. Our specialist CIC accountants allow you to focus on what you do best. We provide support and information to keep you updated with the latest CIC requirements.
Your Obligations as a CIC
At CIC accountants, we help you to stay compliant with the mandatory regulations.
Office of the Regulator of CICs
The ORCIC is part of Companies House, that regulates all registered CICs across the UK. They have the power to permit a company to operate as a CIC, review relevant documentation and conduct investigations. Any new requirements issued by the ORCIC must be complied with.
Community Interest Test
Each CIC must meet a set of requirements in order to operate and remain as a CIC. This includes ensuring that their activities are beneficial to a qualifying ‘community’ and are not harmful or offensive. The test must be continually met to avoid possible fines or more serious action.
CIC Annual ‘CIC34’ Reports
Each year, every CIC is required to produce and submit a return outlining its activities, directors’ pay and other mandatory declarations to confirm compliance. This is reviewed by the ORCIC and must be accepted by them. Getting a professional to review or complete this reduces the risk of the report being rejected or requiring further investigation.
The Asset Lock
From the time when a CIC is set up, its assets (e.g. cash, equipment, inventory, etc.) must be used for the purposes of benefiting the community. There are strict conditions about how a CIC uses its assets. Failure to comply with these rules can result in regulatory action.
The Dividend Cap
For CICs that are ‘limited by shares’, there is a limit placed on the level of dividends that can be paid to each shareholder. These rules are often complex and will depend on a CIC’s number of shareholders and overall profitability each year. Inappropriate dividend payments can result in investigations for fraud.
Trusted by CICs across the UK
The Community Interest Company (CIC) structure was created in 2005 as a type of social enterprise.
CICs are rapidly growing in popularity. There are over 26,000 CICs operating across the UK.
Over 10,000 of the current CICs have been setup within the past 3 years. This represents a 71% increase!
CICs are specially regulated as a unique type of limited company. They report to both Companies House and the ORCIC Regulator.
A CIC can operate for profit as long as there is a benefit to the community or wider public.
There are special rules for CICs and a return must be filed each year to evidence compliance.
Frequently Asked Questions
Contact us if you cannot find the answer to your question here.
Well, you could. However, we’ve built up some real expertise in delivering services to CICs and this means that we are better placed to provide specialist support, understanding the challenges faced specifically by CICs.
Sure! The quickest way to get someone from our team to assist you is by sending an online inquiry using the contact form at the bottom of this page.
Xero™ is an award-winning bookkeeping and accounts software that allows you to raise invoices, manage project finances and track expenses. The banking feeds connect the software to your CIC’s bank accounts to reduce efforts and stress of manual data entry. You can access these simple to use features via computer or the handy mobile app.
Stay up to date
Check out our latest guides and resources to stay on top of the requirements for your CIC.
Things you should know before setting up..
Things you should know before setting up a Community Interest..
Things to consider after setting up a..
Things to consider after setting up a Community Interest Company..
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We charge a monthly fee so that you can spread the costs evenly over the year!