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Accountants for community interest companies, filed on time for a fixed fee
Accountants for community interest companies get asked for things a normal company accountant rarely sees: the CIC34 community interest report, a funder wanting grant spend broken down, and asset lock questions from the board.
Most CIC directors call us after a funder asked how a grant was spent and the records could not answer. Tax investigation cover is included free for every client we act for, and every HMRC investigation we have handled, we have won.
In one lineSupreme Consultants is an AAT licensed accountancy practice in Cardiff Bay that handles CIC formations, annual CIC accounts, CIC34 community interest reports and funder reporting for community interest companies in South Wales and across the UK. Fees are fixed and agreed before work starts, and tax investigation cover is included.
Check we’re the right fit
A few questions about your business. Mudassir replies the same working day.
Thank you Mud, your help and support with my VAT return is greatly appreciated. Always a prompt response and my difficult VAT return was quickly submitted and resolved. Would definitely recommend.
5.0 on Google from 14 reviewsReply the same working dayFee fixed before we startEnglish, Urdu, Hindi and Farsi spokenIs your CIC in good hands? Three questions.
Answer with the buttons below; nothing is sent anywhere.
Question 1 of 3
Does your accountant reply the same working day?
Do you know your fee will not change this year?
If HMRC wrote tomorrow, would they deal with it at no extra cost?
On all three counts you are carrying work and risk that your accountant should be carrying. Start the check and we will tell you what a CIC like yours needs.
Start the checkThat is a reasonable position, and one of those gaps usually costs more than it looks. Start the check and we will go through the one that is missing.
Start the checkYou are well served, and there is no reason to move. Read the guides if you want a second view on CIC reporting.
Read the guidesWhat you get
HMRC dealt with at no extra cost
Tax investigation cover is included free for every client. Every HMRC investigation we have handled, we have won.
Your CIC34 report ready before the date
The community interest report is drafted alongside your accounts and filed with them, so Companies House has no reason to send it back.
Grant figures your funder can read
Grant income and spend sit in their own place in your books. When a funder asks on Monday, you send it on Monday.
What CIC directors tell us when they call
Three things we hear most weeks from community interest company directors in South Wales.
Our funder wants a breakdown of how the grant was spent by Friday and our books cannot produce it.
Two evenings went on rebuilding it from bank statements, and the next claim was held up while the funder waited.
We filed the accounts and then found out the community interest report was still outstanding.
A late filing on a public register is the first thing a new funder looks at.
I asked our accountant about director pay and the asset lock two weeks ago and I am still waiting.
The board meeting went ahead without an answer, so the decision was put off for another quarter.
What changes once we take it on
Your CIC deadlines are mapped for the year, so the report and the accounts move together. Grant income is kept separate in the bookkeeping from the day we start. You ring when a funder asks something and there is no invoice for the call.
How a general practice and we handle a CIC differently
Plenty of good accountants file one or two CICs a year and do a fair job of it.
A general practice that files the odd CIC
CIC34 report drafted after the accounts are done
Grant money sits in with trading income
Phone calls and emails appear on the invoice
HMRC correspondence quoted as extra work
With Supreme Consultants
CIC34 report drafted alongside the accounts
Grant income tracked separately from day one
Calls, meetings and emails are never charged for
Tax investigation cover included free for every client
Eight questions about how your CIC is run
Answer yes or no for each one and count the noes.
Is your CIC34 community interest report drafted before the filing date, not after?
It goes to Companies House with the accounts, so late means both are late.
Can you show a funder what their grant was spent on without rebuilding it from bank statements?
Restricted funds need their own place in the books from the day the money lands.
Do you know the date your CIC accounts are due at Companies House?
The register is public, and a late filing is the first thing a new funder sees.
Is director pay set and recorded in a way that sits with the asset lock?
Directors can be paid, and the reasoning belongs in the report and the minutes.
Is grant income kept apart from trading income in your bookkeeping?
Mixing them makes both the funder report and the corporation tax position harder than they need to be.
Does your accountant come back to you the same working day?
We reply the same working day, and if the answer needs longer we tell you that day when it is coming.
Is your fee fixed in writing for the year ahead?
A fixed fee agreed before we start means a phone call never arrives as a line on an invoice.
If HMRC opened a check tomorrow, would someone handle it at no extra cost?
Tax investigation cover is included free for every client we act for.
What we do for your CIC
The full compliance package for a community interest company, under one fixed fee.
All Who we help- CIC accounts and CIC34
- Year-end accounts and the community interest report prepared together and filed with Companies House.
- Grant and funder reporting
- Grant income and spend tracked by fund, so a funder request is answered the day it arrives.
- Bookkeeping, VAT and payroll
- Day-to-day books, VAT returns and payroll with auto-enrolment, so your team is paid and HMRC stays happy.
- CIC formations
- Setting the company up properly, including the asset lock and community interest statement, for clients we go on to act for.
- Corporation tax and filings
- Computed and filed with your accounts, with the reliefs a trading CIC is actually entitled to claimed.
What knowing the Welsh rules is worth to a client
A South Wales franchise retailer came to us still paying full business rates right through Covid. Cardiff Council required an application for retail rates relief and nobody had told him.
Clients described by type. Names withheld.
- How it was found
- We spotted it in the first meeting while reading through his costs.
- What happened
- The money came back to him and the relief was applied going forward.
Reviews from clients
Thank you Mud, your help and support with my VAT return is greatly appreciated. Always a prompt response and my difficult VAT return was quickly submitted and resolved. Would definitely recommend.
I just want to say a big thank you to Mudassir for all the advice, guidance and help he has provided whilst dealing with my accounts and tax returns. From start to finish the service has been excellent and professional. Unlike other accountancy firms they provide a friendly personalised service, I was very clear on the process and was even provided with additional guidance where needed. Highly recommended!
Friendly, nice 👌 , helpful and great all around
Difficult to describe as there are too many words that can be expressed for a wonderful accountant and their firm.
Definitely 🔝 and highly recommended in Wales 🏴 and throughout the UK for Accountancy and Tax Services
Shaz Khan
How switching to us works
Four steps, and most of the work is ours.
- Before you join
A free introductory chat
Tell us where your CIC stands and what your funders expect. If we cannot genuinely help, we will say so.
- Week one
Fee agreed and handover sent
We complete your ID checks, put your fixed fee in writing, and write to your current accountant for the records. You avoid that conversation.
- First month
Your past filings reviewed
We read your accounts, CIC reports and HMRC record in detail. This is where missed reliefs and appealable penalties usually turn up.
- By ninety days
Every CIC deadline mapped
Accounts, corporation tax, the community interest report, VAT and payroll are all diarised for the year. You are never the one chasing us.
Who we are not right for
We do not act for CIS construction subcontractors.
We do not act for registered charities, though we do act for community interest companies.
We do not take on a business that is already late in an open HMRC investigation.
If your CIC falls outside those three, start the check and we will tell you what we would do first.
Accountants for community interest companies: questions people ask
What does a CIC accountant cost?
You pay one fixed monthly fee, agreed in writing before any work starts, covering the services you take from us. The figure depends on turnover, VAT registration, transaction volume, payroll headcount and how tidy your records are, so we quote after the introductory chat rather than guess. Calls, meetings and emails are never charged for.
How do I switch accountants for my community interest company?
You say yes and we do the rest. We complete your ID checks, agree the fee in writing, and send the professional clearance letter to your current accountant so your records come straight to us. We get authorised with HMRC and Companies House, handle Companies House ID verification where it is needed, and migrate you to Xero free if you want it.
What happens if HMRC writes to my CIC?
You send us the letter and we deal with it. Tax investigation cover is included free for every client we act for, where other firms sell it as a paid add-on. Every HMRC investigation we have handled, we have won. We will not promise an outcome on a case we have not read, but you will not face it alone or pay extra for the help.
Do I have to change my accounting software?
No. We work with the system you already use, and if the bookkeeping is on spreadsheets or paper we can carry on from there while we tidy it up. If you would rather move to Xero, the migration is free when you join us. The decision is yours and nothing changes before we have agreed it with you.
Do you file the CIC34 community interest report as well as the accounts?
Yes. The community interest report is drafted at the same time as your year-end accounts and filed with them at Companies House, along with the filing fee the Regulator requires. We write it from what your CIC actually did that year, covering activities, stakeholder consultation and director pay, so it stands up to a funder reading it on the public register.
Can directors of a CIC be paid, given the asset lock?
Yes, directors can be paid for the work they do, and the asset lock governs what happens to assets and surpluses rather than banning wages. The amounts and the reasoning have to be disclosed in the community interest report. We set the pay up properly through payroll and write the disclosure so the board and the funders see the same figures.
Three ways to take the next step
Run the check on your CIC
It takes a couple of minutes, and we come back the same working day with what we would do first.
Start the checkGot a question about your CIC34 or a funder report?
Ask Mudassir and you get an answer, with no charge for the call.
Ask Mudassir a questionStill deciding
The guides walk through CIC deadlines, grant reporting and what Companies House expects in the community interest report.
Read the guides