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Do CICs pay Corporation Tax?

  • Member
  • Practice Licence
  • 12 posts
  • # 115317

Hi there, 

A potential client is setting up a CIC, they've asked me to initially do some cash flow forecasting, which is fine, but we got on to the subject of tax.

As far as I can see, a CIC would still need to complete a corporation tax return annually, but might not need to pay tax. 

Could anyone point me in the direction of any guidance about this? I'm not qualified to help them with their corporation tax return at the moment but thought I might be able to share some information. 

Many thanks, Zoe

  • Member PM.Dip
  • Practice Licence
  • 336 posts
  • # 115337

Hi Zoe,

I do the bookkeeping for a CIC in my village, and yes it does have to pay Corporation Tax like a limited company Frown

 

Kind regards

Debbie

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