Meet your ongoing CIC compliance obligations

Guide summary

Public companies must file the CIC34 and accounts within 6 months of the accounting reference period
Use the detailed report if you paid performance-related interest on a debt or debenture
A CIC limited by shares uses the detailed report to show dividends and how they meet the dividend cap
Dormant CICs must still file a report and say what they have done to prepare to trade
Describe real achievements in the report, because it goes on the public register
File the CIC34 and accounts together on paper or with CIC-compatible software, not WebFiling
Late accounts bring an automatic penalty, from £150 up to £1,500 for a private company
Deliver your confirmation statement within 14 days after the end of each review period

Community Interest Company

A CIC has the same accounts and confirmation statement duties as any private limited company. On top of those, its directors must prepare a community interest report every year to show that the CIC still meets the community interest test and is dealing properly with its stakeholders.

Prepare the community interest report

CIC annual report (CIC34)

The annual community interest company report that every CIC files with its accounts: what it must cover, the fee and the deadline.

The directors of every CIC must prepare an annual CIC report (form CIC34) and file it with the accounts. The report shows that the CIC still satisfies the community interest test and is engaging appropriately with its stakeholders. Reports go on the public register.

Filing fee: £15
Deadline, private company: 9 months after the accounting reference period
Deadline, public company: 6 months after the accounting reference period
Report types: Simplified or detailed
Simplified report: Completed by most CICs
Detailed report: For more complex financial arrangements
Dormant CICs: Must still file a report

What the report must cover

What the CIC has done to benefit the community
How it consulted the people affected by its activities, and the outcome
Directors' remuneration
Any transfer of assets for less than full consideration, including those the Regulator consented to

The detailed report is for a CIC that has paid performance-related interest on a debt or debenture. A CIC limited by shares also uses it to show dividends. It must state the amount of any dividend declared or proposed on each share for the year and explain how that complies with the dividend cap, and state the rate of any performance-related interest and the cap that applies.

A dormant CIC explains what it has done to prepare to trade. If there has been no activity at all, it states that it was dormant throughout the financial year under each part of the form.

CIC34: community interest company report (opens in a new tab)

The report goes on the public register, so describe the CIC's real achievements rather than listing activities.

The Regulator accepts dormancy while a CIC prepares to trade, but a CIC that stays dormant for years will fail the community interest test.

File the report with your accounts

File the CIC34 with the accounts. One fee covers the two together.

You can file online using accounts software that supports CIC filing, but not through Companies House WebFiling. Otherwise post the accounts and CIC34 to Companies House as one package with a cheque for the filing fee. Corrected accounts go in on paper with the CIC34, and carry no fee.

Accounts filed late bring an automatic penalty, of £150 up to one month late rising to £1,500 more than six months late for a private company. The penalty doubles if the accounts are late two years running.

Deliver your confirmation statement

Within 14 days after the end of each review period, deliver a confirmation statement to Companies House. It confirms that the company's details on the register are correct, so update anything that has changed at the same time. Each statement must be made at least once a year. The fee is £50 online and £110 on paper.

What the CIC Regulator checks

The Regulator is a light-touch regulator and does not supervise individual CICs actively. It reads the annual reports, deals with complaints and may make enquiries. Many issues are resolved by discussion. It also processes special resolutions, such as a change to the named asset-locked body, and requests for consent to asset transfers. If a CIC breaches the rules, it can use its enforcement powers, and it can refer wider concerns to the Insolvency Service.

CIC Regulator: role, contact details and powers

What the Office of the Regulator of Community Interest Companies does, how to contact it, and the powers it has over a community interest company.

The Office of the Regulator of Community Interest Companies decides whether a company can become, or continue to be, a community interest company (CIC), investigates complaints and gives guidance. It sits within Companies House and works with the Department for Business, Innovation, Science and Trade (BIST).

Official name: Office of the Regulator of Community Interest Companies
Role: Decides whether a company can become or stay a CIC, investigates complaints, gives guidance
Regulatory approach: Light touch, with no pro-active supervision of individual CICs
Key functions: Examines community interest statements, considers annual CIC reports and complaints, decides on changes to objects and asset disposals
Address: 2nd Floor, Companies House, Crown Way, Cardiff CF14 3UZ
Email: cicregulator@companieshouse.gov.uk
Complaints email: cicconcerns@companieshouse.gov.uk
Telephone: 029 2150 7420
Limitation: General guidance only; cannot advise on specific points or prejudge decisions

Powers over a CIC

Investigation: Investigate the affairs of the company in relation to its CIC status (section 42 and Schedule 7)
Directors: Appoint a director (section 45); suspend a director for up to one year, or remove one (section 46)
Manager: Appoint a manager for the company's property and affairs (section 47)
Property and payments: Vest property in the Official Property Holder, order a person not to part with property, order a debtor not to pay, and restrict the company's transactions or payments (section 48)
Shares and members: Transfer shares, or extinguish members' interests in a guarantee company (section 49)
Winding up: Petition for the CIC to be wound up where it is just and equitable (section 50)
Caps: Set new dividend and interest caps with the Secretary of State's approval, taking effect no less than 3 months after publication

Office of the Regulator of Community Interest Companies (opens in a new tab)

Community Interest Companies guidance (opens in a new tab)

Legal basis

Primary legislation and key regulations

Companies Act 2006 Primary 2006 · UK-wide CAICEA 2004 Primary 2004 · UK-wide Community Interest Company Regulations 2005 SI 2005 · UK-wide

Browse UK legislation legislation.gov.uk

Official guidance

Penalties for late filing of company accounts (opens in a new tab)

GOV.UK

CIC guidance chapters (opens in a new tab)

Publication · GOV.UK

Companies House fees (opens in a new tab)

Publication · GOV.UK

File confirmation statement (opens in a new tab)

Companies House

Community interest companies: forms and step-by-step guides (opens in a new tab)

CIC Regulator

Meet your ongoing CIC compliance obligations

Prepare the community interest report

File the report with your accounts

Deliver your confirmation statement

What the CIC Regulator checks

Legal basis

Official guidance

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