Community Interest Company

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Community Interest Company

A for-profit company in the United Kingdom that has statutory duties other than making a profit for owners. It may be formed for many purposes, such as to improve a community or to protect the environment. It is treated as a for-profit company for legal and tax purposes. It is not prohibited from making a profit, but it is subject to fewer regulatory requirements than a non-profit in the United Kingdom.
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The voucher scheme is also available to social enterprises, community Interest companies, charities, small office/home offices and sole traders.
Applicants can include voluntary and community organisations, charities, community interest companies, social enterprises and the local authority.
This means that Community Interest Companies will no longer be subject to the maximum dividend per share cap which restricted dividend payments to 20% of the paid up value of a share.
As MEA House reaches its 40th anniversary, it is still the only office accommodation block in the city to provide this service, and has extended its criteria to enable selected local community interest companies, industrial and provident societies and other forms of social enterprise to rent space there.
The UK is home to 68,000 social enterprises, 'good' businesses that include co-operatives, Community Interest Companies and trading charities.
This is all legal because community interest companies, or CICs, can be run by salaried directors, without the need for any unpaid trustees that would monitor registered charities.
Nominations are welcome from, Self-employed business owners, SMEs, Businesses with 5+ employees, Business partnerships, Social enterprises and Charities & Community Interest Companies.
The contracting authority considers that this contract may be suitable for economic operators that are Consortia, Charitable Incorporated Organisations (CIO), Community Interest Companies (CIC), a Lead Organisation with a s
Jodie King, Becky Ellington Samantha Collin, Simon Willison and Gemma Madden, all from Stockton, benefited from cash awarded to three community interest companies.
Mr Davis has set up Promoting Leisure as one of only a handful of Community Interest Companies (CICs) in Wales with the help of professional advisers and charity experts Broomfield & Alexander and 7Side, a Cardiff-based firm which specialises in electronic company incorporations, corporate information and property search services.
CHARTERED Accountants Mitchell Charlesworth has helped set up one of the first Community Interest Companies (CIC) in the country.
Councillor Ian Mearns, deputy leader of Gateshead Council, says: "Social enterprise and community interest companies will develop further in the next few years, ensuring that they no longer struggle to access external finance and that regulatory, tax and administrative systems do not hinder their development.
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