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CIC Accounts

Run your social enterprise; we will keep the regulator happy. Complete CIC accounts and community interest reports, prepared and filed on time with the asset lock properly evidenced.

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Community Interest Companies follow normal Companies Act accounting rules plus an extra layer of CIC-specific reporting. Every year you must file accounts and a community interest company report (form CIC34) showing how your activities benefited the community and how you complied with the asset lock. We handle the whole package — accounts, CIC34 report, iXBRL tagging and filing — so your energy stays on your mission, not on paperwork.

What Makes CIC Accounts Different?

A CIC is a limited company designed for social enterprise, and its reporting reflects that: - Community benefit: your annual CIC34 report must describe how the company's activities benefited the community - Asset lock: accounts and reports must evidence that assets and profits were used for the community purpose, with dividends and asset transfers within the permitted limits - CIC Regulator oversight: the CIC34 report is filed alongside your accounts and reviewed by the Regulator of Community Interest Companies - Companies Act compliance: everything a normal company files, a CIC files too

Our CIC Accounts Services

- Annual accounts prepared under UK GAAP (FRS 102, including Section 1A for small CICs, or FRS 105 where eligible) - Community interest company report (CIC34) drafted with you and filed with the accounts - Asset lock and dividend cap compliance checks - iXBRL tagging and corporation tax return alignment - Companies House filing within the 9-month deadline - Annual reviews of your size category and reporting options

Size Thresholds and Filing Options

CICs use the same company size regime as other companies, and the thresholds rose by around 50% for financial years beginning on or after 6 April 2025 — small is now turnover of £15 million or less, balance sheet of £7.5 million or less and 50 or fewer employees (meeting two of three). Qualifying small CICs can file reduced-disclosure accounts and are usually audit exempt. Unlike charities, CICs pay corporation tax on their profits in the normal way, which makes integrated tax planning valuable — our accounts and tax teams work as one.

CIC or Charity? We Support Both

Many founders weigh a CIC against a charity or CIO. CICs offer more commercial freedom and simpler governance but no charitable tax reliefs; charities gain tax advantages but stricter regulation. We prepare accounts for both structures and can advise on conversions, so whichever route your organisation takes, your reporting is in safe hands.

What You Get With Acumon

  • Complete CIC accounts preparation under FRS 102, Section 1A or FRS 105
  • CIC34 community interest report drafted and filed with your accounts
  • Asset lock and dividend cap compliance evidenced properly
  • iXBRL tagging and corporation tax return alignment
  • Companies House and CIC Regulator filings handled for you
  • Deadline tracking so late filing penalties never arise
  • Advice on CIC vs charity structures and size thresholds

Why Acumon for CIC Accounts?

  • ICAEW-registered firm of chartered accountants
  • UK-based team of 90+ staff with integrated accounts, audit and tax expertise
  • Experience across CICs, charities, CIOs and other social enterprise structures
  • Xero Gold Partner, with Sage and QuickBooks support for your bookkeeping

Get a Fixed-Fee Quote

Tell us what you need and we'll come back within one business day with a clear scope and a fixed price — no hourly-rate surprises. Call 020 8567 3451 or use the form and we'll be in touch.

Common Questions

Frequently Asked Questions

What is the CIC34 community interest company report?
The CIC34 is an annual report every CIC must file with its accounts at Companies House. It explains how the company's activities benefited the community, how stakeholders were consulted, and details of directors' pay and any dividends or asset transfers, evidencing compliance with the asset lock. We draft it with you so it presents your impact well and satisfies the CIC Regulator.
When are CIC accounts due?
The same deadlines as other private companies: accounts (with the CIC34 report) are due at Companies House within 9 months of your year end, corporation tax is payable 9 months and 1 day after the year end, and the CT600 return within 12 months. We track all three for you.
Can a CIC file small company or micro-entity accounts?
Yes. CICs follow the normal company size regime, so a CIC meeting the small company criteria (two of: turnover £15m or less, balance sheet £7.5m or less, 50 or fewer employees, for periods beginning on or after 6 April 2025) can prepare reduced-disclosure accounts, and qualifying micro CICs can use FRS 105. The CIC34 report is still required whatever the size.
Do CICs pay corporation tax?
Yes. Unlike charities, CICs receive no special corporation tax exemption — profits are taxed at the normal rates (19% small profits rate up to £50,000, 25% main rate over £250,000, with marginal relief between). That makes proactive tax planning worthwhile, and our integrated accounts and tax team handles both sides.
Does a CIC need an audit?
Only under the same rules as any other company. A CIC that qualifies as small is normally audit exempt unless it is in an ineligible group, is regulated, or members holding 10% or more of shares request an audit. Funders occasionally require one contractually — we check your obligations and advise the most proportionate option.
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