Community Interest Companies

Community Interest Companies

Accountants play a key role in many businesses. It is even more important to have an accountant in place if your interest is in a Community Interest Company. An accountant can help you implement all of the right systems and processes before making an investment. Accountants are able to undertake company health checks, establish strong systems, carry out impact measurement and complete routine accounting and taxation services for a Community Interest Company.

When looking for an accountant you should make sure that those dealing with your CIC are qualified. The firm should also have a good understanding of the issues which face these companies and how current or future changes will affect your business. Many accountants also offer fixed fees for specific tasks so you know exactly what you will be paying.

An accountant for Community Interest Companies can;

• Assist with the preparation of yearly accounts
• Complete and submit your CIC34 report to Companies House
• Carry out corporation tax returns
• Coordinate your book keeping and management accounting tasks. This will help you fully understand income, expenditure and business forecasts.
• Manage payroll including reporting to HMRC
• Preparing your Community Interest Company for investment and providing advice on tax relief

• Supporting the development of comprehensive impact management systems
• Filing documents with Companies House and providing secretarial support as required
• VAT Support such as registration and ongoing reviews

The Accountancy Network can help you find the right accountant for your Community Interest Company. By employing an experienced accountant you can reduce your workload, benefit from fixed fees to plan effectively and take advantage of the experience the firm has in dealing with Community interest company accounts.