New Forest

Charitable incorporated organisations – making the switch?

Charities are already taking advantage of new eligibility rules allowing charitable companies to convert to charitable incorporated organisations (CIOs).

The conversion process is being introduced on a phased basis, starting with the smallest charities and working up to larger charities becoming eligible later this year. It comes after the Government passed legislation last November to enable charities with company structures and community interest companies to convert simply to CIOs, speeding up the process.

Any charity that wanted to convert to CIO status previously had to wind up their old organisation and start a new CIO.

The timeline for eligibility is as follows:

DateAnnual Income
1 January 2018Less than £12,500
1 March 2018Between £12,500 and £25,000
1 May 2018Between £25,000 and £100,000
1 June 2018Between £100,000 and £250,000
1 July 2018Between £250,000 and £500,000
1 August 2018Greater than £500,000

Michaela Johns says: “These changes are a long time coming and will be broadly welcomed in the sector as it reduces some of the red tape.”

“Becoming a CIO offers the opportunity to reduce long-term administrative burden.”

For more information on converting and the process involved, contact Michaela Johns on 023 8046 1256

Latest Tweets

Making Tax Digital (MTD) for VAT is on course for April 2019. Here's what you need to know #makingtaxdigital #business #tax #southampton https://t.co/EfRevmcEqT

Our classic car day has gotten off to a good start with the sun finally arriving for some photos #classiccars #hampshire #business #southampton

Let’s Talk

Why not arrange a FREE consultation and find out what we can do for your business.