Taxes and reliefs for social enterprises
This article is linked to three others that look in detail at social enterprises and their taxes, paying workers and social enterprise & investment relief for social enterprises.
Social enterprises and their taxes
It is a common misconception that Social Enterprises are exempt from tax. For HMRC, Social Enterprises are treated the same as limited companies for tax purposes.
Dissolving a community interest company
As of 31 March 2018, there are 14,254 CIC’s registered in the UK and we all understand that there comes a time in which the directors may feel it is no longer necessary or financially possible to keep the CIC open and trading.
Changes to Spring 2017 budget
There are a number of changes that have been listed in the budget announced recently. One of those changes was the increase in Class 4 National Insurance from April 2018.
Grant Treatments for Tax
Grants received by CICs and other social enterprises are not automatically treated as tax free or exempt. It is essential to establish the nature of the grant for corporation tax and VAT purpose.
