{"id":1134,"date":"2022-05-04T00:00:00","date_gmt":"2022-05-04T00:00:00","guid":{"rendered":"https:\/\/www.simplybusiness.co.uk\/knowledge\/articles\/what-is-a-community-interest-company-uk\/"},"modified":"2025-05-22T13:16:47","modified_gmt":"2025-05-22T13:16:47","slug":"what-is-a-community-interest-company-uk","status":"publish","type":"knowledge","link":"https:\/\/www.simplybusiness.co.uk\/knowledge\/business-structure\/what-is-a-community-interest-company-uk\/","title":{"rendered":"What is a community interest company \u2013 and how do you set one up?"},"content":{"rendered":"<p class=\"wp-block-paragraph\">A community interest company is a social enterprise designed to benefit the community rather than purely generating profits for shareholders and owners.<\/p><p class=\"wp-block-paragraph\">If you\u2019re thinking of setting one up, but aren\u2019t sure what you need to do first, read our step-by-step guide to get started.<\/p>\n\t\t\t<h2 class=\"wp-block-heading\">Community interest company definition<\/h2><p class=\"wp-block-paragraph\">A community interest company is a non-charitable social enterprise that uses its profits to benefit the community. Essentially, a CIC is a type of <a href=\"\/knowledge\/business-structure\/setting-up-a-limited-company\/\" data-type=\"knowledge\" data-id=\"1270\" >limited company structure<\/a> which comes with a range of regulatory and compliance requirements (we\u2019ll explain more on this later). <\/p><h2 class=\"wp-block-heading\">Community interest company examples<\/h2><p class=\"wp-block-paragraph\">Transport, health and social care services, and creative arts projects are just some areas where you\u2019ll find community interest companies. One example is The Isle of Skye Ferry, a community interest company in Scotland that was bought by the community and is now run as a social enterprise. Their mission is to connect the remote communities with the Scottish mainland by providing free travel for pensioners and half price tickets for locals. <\/p><p class=\"wp-block-paragraph\">To understand more about the work of community interest companies across the UK, take a look at the <a href=\"https:\/\/communityinterestcompanies.blog.gov.uk\/category\/cics-in-action\/\" rel=\"noopener noreferrer\" target=\"_blank\">Community Interest Companies in Action blog<\/a> from the CIC Regulator. <\/p><h2 class=\"wp-block-heading\">Community interest company vs charity \u2013 what\u2019s the difference? <\/h2><p class=\"wp-block-paragraph\">While a charity is specifically \u2018not-for-profit\u2019, a community interest company can make a profit and pay directors a salary. As long as a CIC is using its assets and profits to fulfil their social purpose, it\u2019s possible to take a \u2018reasonable salary\u2019 as a director and retain some control. <\/p><p class=\"wp-block-paragraph\">There are also different rules for community interest companies when it comes to taxes, funding, and regulation. <\/p><p class=\"wp-block-paragraph\">As a CIC you\u2019ll probably get most of your funding from trade, and then put any profits back into running the business. Meanwhile, a charity gets most of its funding from donations and grants. <\/p><p class=\"wp-block-paragraph\">It\u2019s also important to note that you can\u2019t get any tax relief as a CIC, whereas you can as a charity. <\/p><p class=\"wp-block-paragraph\">Thinking of starting a charity instead? Our <a href=\"\/knowledge\/starting-out\/how-to-start-a-charity\/\" data-type=\"knowledge\" data-id=\"1036\" >guide to forming a charity<\/a> will help you understand everything from finding trustees to government regulations. <\/p>\n<div id=\"nba-body-001\">\n<\/div>\n<h2 class=\"wp-block-heading\">7 steps to setting up a community interest company (CIC)<\/h2><p class=\"wp-block-paragraph\">Follow these steps when setting up a CIC in the UK. <\/p><h3 class=\"wp-block-heading\">Choose your CIC directors <\/h3><p class=\"wp-block-paragraph\">Your CIC needs at least one director, and it\u2019s their job to run the company. <\/p><p class=\"wp-block-paragraph\">This could be you, or you could appoint someone to look after the legal and financial tasks that come with running a community interest company. Responsibilities include keeping company records, filing company accounts, and paying tax. <\/p><h3 class=\"wp-block-heading\">Register with Companies House<\/h3><p class=\"wp-block-paragraph\"><strong>Online<\/strong><\/p><p class=\"wp-block-paragraph\">The easiest CIC registration method is through the<a href=\"https:\/\/www.tax.service.gov.uk\/register-your-company\/setting-up-new-limited-company\" rel=\"noopener noreferrer\" target=\"_blank\"> government\u2019s online service<\/a>. <\/p><p class=\"wp-block-paragraph\">You\u2019ll need to create a Government Gateway user ID and password for your company (you can\u2019t use your personal one). Once you\u2019ve uploaded your registration documents, you\u2019ll need to pay \u00a327 by card or using PayPal.<\/p><p class=\"wp-block-paragraph\"><strong>By post<\/strong><\/p><p class=\"wp-block-paragraph\">It\u2019s also possible to set up your community interest company by post, although this is more expensive and can take up to 15 days to process. <\/p><p class=\"wp-block-paragraph\">You\u2019ll need to post these documents:<\/p><ul class=\"wp-block-list\"><li class=\"wp-block-list-item\"><a href=\"https:\/\/www.gov.uk\/government\/publications\/register-a-private-or-public-company-in01\" rel=\"noopener noreferrer\" target=\"_blank\">Form IN01<\/a> \u2013 to register your company<\/li>\n\n<li class=\"wp-block-list-item\"><a href=\"https:\/\/www.gov.uk\/government\/publications\/form-cic36-application-to-form-a-community-interest-company\" rel=\"noopener noreferrer\" target=\"_blank\">Form CIC36<\/a> \u2013 to apply to form a community interest company<\/li>\n\n<li class=\"wp-block-list-item\">Memorandum and articles of association \u2013 you can use our <a href=\"\/knowledge\/business-structure\/memorandum-of-association-template-free-download\/\" data-type=\"knowledge\" data-id=\"1483\" >memorandum of association template<\/a><\/li>\n\n<\/ul><p class=\"wp-block-paragraph\">Once you have your documents ready, you can post them to Companies House along with a cheque for \u00a335. <a href=\"https:\/\/www.gov.uk\/government\/publications\/community-interest-companies-business-activities\/cic-business-activities-forms-and-step-by-step-guidelines#send\" rel=\"noopener noreferrer\" target=\"_blank\">Find the postal address you need<\/a> for England and Wales, Scotland, and Northern Ireland. <\/p><h3 class=\"wp-block-heading\">Choose a name<\/h3><p class=\"wp-block-paragraph\">There\u2019s a lot to think about when choosing a name for your community interest company. It should be unique, work online, and say something about your business. <\/p><p class=\"wp-block-paragraph\">Importantly, it should include \u2018community interest company\u2019 or \u2018CIC\u2019 in the name (or the equivalent in Welsh). <\/p><p class=\"wp-block-paragraph\">Try our <a href=\"\/business-name-generator\/\" data-type=\"page\" data-id=\"6\" >Business Name Generator<\/a> to spark your creativity when it comes to choosing your name. And, to be sure you\u2019re not using a name that\u2019s already taken by another business, read our <a href=\"\/knowledge\/starting-out\/how-to-do-a-trademark-search-uk\/\" data-type=\"knowledge\" data-id=\"1115\" >guide to UK trademarks<\/a>. <\/p><h3 class=\"wp-block-heading\">Write your community interest statement<\/h3><p class=\"wp-block-paragraph\">Your community interest statement goes on <a href=\"https:\/\/www.gov.uk\/government\/publications\/form-cic36-application-to-form-a-community-interest-company\" rel=\"noopener noreferrer\" target=\"_blank\">Form CIC36<\/a> and is where you outline how your company will benefit the community, and the types of activities you have planned. You\u2019ll also need to demonstrate how you\u2019re different from a commercial organisation.  <\/p><p class=\"wp-block-paragraph\">This then goes to the CIC Regulator to make a decision about whether to approve you as a CIC. You\u2019ll then need to continue proving that your company is operating in the interest of the community by reporting to the regulator every year. <\/p><h3 class=\"wp-block-heading\">Establish your company\u2019s constitution<\/h3><p class=\"wp-block-paragraph\">Your constitution is made up of a number of important documents:<\/p><ul class=\"wp-block-list\"><li class=\"wp-block-list-item\"><strong>Memorandum of association<\/strong> \u2013 lists the names your members and is created automatically if you register your CIC online<\/li>\n\n<li class=\"wp-block-list-item\"><strong>Articles of association<\/strong> \u2013 documents the rules and social goals when it comes to how your business will work and benefit the community<\/li>\n\n<\/ul><p class=\"wp-block-paragraph\">Find out more about how to write a memorandum of association and articles of association and <a href=\"\/knowledge\/business-structure\/memorandum-of-association-template-free-download\/\" data-type=\"knowledge\" data-id=\"1483\" >download a free template<\/a>. <\/p><h3 class=\"wp-block-heading\">Create an \u2018asset lock\u2019<\/h3><p class=\"wp-block-paragraph\">An \u2018asset lock\u2019 is a legal promise that says you\u2019ll only use the company\u2019s assets to benefit the community. You\u2019ll also need to name an \u2018asset-locked body\u2019 \u2013 an organisation that will receive the assets if you choose to dissolve your community interest company. Your asset-locked body should be another CIC, a charity, a registered society, or a non-UK based equivalent. <\/p><h3 class=\"wp-block-heading\">Don\u2019t forget insurance<\/h3><p class=\"wp-block-paragraph\">Whether it\u2019s a community project or a new service, CICs come with unique risks and it\u2019s important to be protected.  <\/p><p class=\"wp-block-paragraph\">If you employ people, you need to have <a href=\"\/business-insurance\/employers-liability-insurance\/\">employers\u2019 liability insurance<\/a> by law. While you might also want to consider <a href=\"\/business-insurance\/public-liability-insurance\/\">public liability insurance <\/a>to protect your business in case someone is injured or property is lost or damaged. <\/p><p class=\"wp-block-paragraph\">Simply Business offers <a href=\"\/business-insurance\/\" data-type=\"page\" data-id=\"5152\" >tailored business insurance<\/a> for charities and not-for-profit organisations, so you only pay for the cover you need.<\/p><h2 class=\"wp-block-heading\">CIC regulations <\/h2><p class=\"wp-block-paragraph\">The <a href=\"https:\/\/www.gov.uk\/government\/organisations\/office-of-the-regulator-of-community-interest-companies\" rel=\"noopener noreferrer\" target=\"_blank\">CIC Regulator<\/a> is responsible for approving and regulating community interest companies. Every year you\u2019ll need to file an annual report to show the CIC Regulator how your activities are benefiting the community, along with details of how shareholders have been consulted, and what dividends have been paid. <\/p><p class=\"wp-block-paragraph\">A dividend cap for community interest companies means you can pay a maximum of 35 per cent of your distributable profits to shareholders at the end of each year. <\/p><p class=\"wp-block-paragraph\">You\u2019ll also need to file your accounts and a company tax return every year \u2013 check our guide to <a href=\"\/knowledge\/self-assessment\/self-assessment-deadline\/\" data-type=\"knowledge\" data-id=\"1509\" >important tax year dates<\/a> for limited companies.<\/p><p class=\"wp-block-paragraph\">If you work with children or vulnerable adults, you&#8217;ll need to have appropriate safeguarding in place too, such as DBS checks for all staff working with children. <\/p><p class=\"wp-block-paragraph\">For full <a href=\"https:\/\/www.gov.uk\/government\/publications\/community-interest-companies-how-to-form-a-cic\" rel=\"noopener noreferrer\" target=\"_blank\">guidance on setting up a community interest company<\/a>, visit the UK government website.<\/p><p class=\"wp-block-paragraph\"><strong>Have you set up a community interest company? Let us know your experience in the comments below. <\/strong><\/p><h3 class=\"wp-block-heading\">Useful guides for small business owners<\/h3><ul class=\"wp-block-list\"><li class=\"wp-block-list-item\"><a href=\"\/knowledge\/banking\/best-small-business-bank-account\/\" data-type=\"knowledge\" data-id=\"1332\" >Which bank has the best business bank account?<\/a><\/li>\n\n<li class=\"wp-block-list-item\"><a href=\"\/knowledge\/marketing\/what-is-a-b-corporation\/\" data-type=\"knowledge\" data-id=\"1564\" >What is a B Corp \u2013 and how to become one?<\/a><\/li>\n\n<li class=\"wp-block-list-item\"><a href=\"\/knowledge\/business-tax\/what-is-making-tax-digital\/\" data-type=\"knowledge\" data-id=\"1580\" >What is Making Tax Digital? <\/a><\/li>\n\n<li class=\"wp-block-list-item\"><a href=\"\/business-insurance\/faq\/is-public-liability-insurance-tax-deductible\/\">Is public liability insurance tax deductible? <\/a><\/li>\n\n<\/ul>\n\t\t\t\t\t<div id=\"nba-upsell-001\" class=\"wp-block-group has-azure-200-background-color has-background has-global-padding is-layout-constrained wp-container-core-group-is-layout-94e519ba wp-block-group-is-layout-constrained\" style=\"padding-top:var(--wp--preset--spacing--80);padding-right:var(--wp--preset--spacing--40);padding-bottom:var(--wp--preset--spacing--80);padding-left:var(--wp--preset--spacing--40)\"><h3 class=\"wp-block-heading has-text-align-center\">Ready to set up your cover?<\/h3>\n\n<p class=\"has-text-align-center wp-block-paragraph\">As one of the UK&#8217;s biggest <a href=\"\/business-insurance\/\" data-type=\"page\" data-id=\"5152\" >business insurance<\/a> providers, we specialise in <a href=\"\/business-insurance\/public-liability-insurance\/\">public liability insurance<\/a> and protect more trades than anybody else. Why not take a look now and build a quick, tailored quote?<\/p>\n\n\n\t\t\t\t\t<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\">\n\t\t\t\t\t<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/quote.simplybusiness.co.uk\/business\">Start your quote<\/a><\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\n<p class=\"wp-block-paragraph\"><em>Photograph: Viktoriia\/stock.adobe.com<\/em><\/p>\n<div id=\"nba-body-end\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A community interest company is designed to benefit your community over its shareholders. Here\u2019s how to set one up.<\/p>\n","protected":false},"author":3,"featured_media":3626,"comment_status":"open","ping_status":"closed","template":"","meta":{"sb_hreflang":"","sb_hreflang_url":"","disable_breadcrumbs":false,"sb_breadcrumbs":[],"sb_reviewed_by":"","sb_review_date":"","sb_enable_content_gating":true,"footnotes":""},"categories":[336,110],"hidden-category":[],"coauthors":[25],"class_list":["post-1134","knowledge","type-knowledge","status-publish","has-post-thumbnail","hentry","category-business-structure","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Quick guide to setting up a community interest company UK<\/title>\n<meta name=\"description\" content=\"A community interest company is designed to benefit your community over its shareholders. 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