Community Interest Companies Flashcards
1
Q
What is a community interest company?
A
Limited company that aim to benefit the community or trade with a social purpose rather than earning high profit
2
Q
Most appropriate for…
A
Companies of all sizes that have social/community at heart and are familiar of the running and structure of a limited company
3
Q
Advantages (2)
A
Own legal identity
Reputation of the business will be enhanced
4
Q
Disadvantages
A
Articles of Association and Memorandum of Association must be completed at sent to the Registrar of Companies
Tax must be paid on profits
