GovWire

The information pack is an abbreviated version of the Community interest companies: how to form a CIC guidance. It includes information on:

• the community interest test
• the asset lock
• the dividend cap
• redemption and repurchase of shares and reduction of capital
• charities converting to CIC status or vice versa
• converting an industrial and provident society (IPS) to a CIC
• tax considerations
• sources of finance
• charges on assets
• lenders to the third sector
• forming a new CIC
• converting an existing company to a CIC
• CIC fees
• the annual CIC report