7 May 2019

New online process for incorporating Community Interest Companies (CICs)

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Are you setting up a new Community Interest Company? You can now use an online incorporation process. This new digital registration option will offer:

  • significantly reduce incorporation times,
  • online convenience; and
  • 24-hour availability to the CIC sector

As well as including CIC and Company House registration this three-way digital service includes HMRC, enabling CICs to register for corporation tax as they incorporate their business.

According to the regulator, the new system will let applicants know that their application has been received and confirm incorporation as soon as it is completed, usually within two working days.  It will also allow Companies House to process and place community interest companies on the public record far more efficiently than paper documents.  The online process will provide benefits such as security, speed and environmental savings.

Digital incorporation will:

  • Reduce incorporation costs for prospective CICs to £27
  • Allow payment by card or PayPal; and
  • Confirm incorporation - within 2 working days, in the majority of cases.

For further information on the new online process, take a look at this webinar which provides an overview of the online system https://bit.ly/2WabXoe