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GuidesBlogAboutContact Start the checkHome / Services near you / CIC accountants Newport
CIC accountants in Newport who keep your community interest report right
CIC accountants Newport directors call us about usually have one of two problems: a community interest report that is late, or a funder asking where the money went.
Plenty of firms treat a community interest company like any other limited company and leave the community side until the last week. We do both filings together, agree the fee before we start, and include tax investigation cover free. Every HMRC investigation we have handled, we have won.
In one lineSupreme Consultants is an AAT licensed accountancy practice in Cardiff Bay that acts for community interest companies in Newport and across South Wales. It prepares CIC accounts, community interest reports, corporation tax, VAT and payroll on a fixed fee agreed in advance, and includes tax investigation cover for every client. The founders also run their own CIC.
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 by button, no email needed, and you get the result on the page.
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?
You are carrying the risk your accountant should be carrying, and you are finding out about problems after they happen. Run the check and we will tell you what we would do differently in your first month.
Start the checkThe basics are covered, which puts you ahead of most CICs we speak to. There is still one gap worth half an hour of conversation before your next filing date.
Start the checkYou are well served and there is no reason to move. Read the guides instead and come back if your funders or your filing dates change.
Read the guidesWhat you get
Tax investigation cover included free
We cover it ourselves for every client rather than selling it as an add-on. Every HMRC investigation we have handled, we have won.
A fee agreed before we start
A fixed fee agreed in writing before any work begins. Calls, meetings and emails are never charged, so you ring us when the question is small.
Figures a funder will accept
Your accounts and community interest report are built from bookkeeping kept up through the year. When a funder asks for a spend report, the numbers are already there.
What CIC directors in Newport tell us when they first call
Three things we hear most often from community interest companies that have outgrown their current arrangement.
“Our funder wants a spend report by Friday and our bookkeeping stops in March.”
A weekend of rebuilding records from bank statements, and a grant officer kept waiting.
“We filed the accounts but nobody mentioned the community interest report.”
A late filing on the public record, and awkward questions from the board at the next meeting.
“I emailed our accountant about a VAT letter and heard nothing for a week.”
The HMRC deadline moved closer while the director sat on a question that takes ten minutes to answer.
What changes once we take it on
Your bookkeeping is kept current, so accounts and the community interest report are prepared together rather than in a rush. Every deadline for the year is mapped and diarised. You ring us when something comes up and there is no invoice for the call.
How a general practice handles a CIC compared with us
Both file your accounts. The difference is what happens around them.
A general practice with one or two CICs
Accounts filed, community interest report left to the director
Hourly billing, so a quick question has a cost
Funder reports pulled together after the year end
Tax investigation cover offered as a paid extra
With Supreme Consultants
Accounts and the community interest report prepared together
A fixed fee agreed in writing, calls never billed
Bookkeeping kept current, so spend reports come out of the ledger
Tax investigation cover included free for every client
Eight questions about how your CIC is run
A yes on each one means that part is already covered.
Is your bookkeeping up to date this month?
Current records are what let you answer a funder in a day rather than a fortnight.
Do you know when your community interest report is due?
It sits alongside the accounts and is filed at the same time.
Can you show how restricted grant money was spent?
Funders ask, and the answer should come from the ledger.
Is your fee fixed for the year?
A fixed fee agreed before we start means no invoice you did not expect.
Are you charged for phone calls?
We never bill for calls, meetings or emails.
Does your payroll run on time every month?
Staff and auto-enrolment both need to be right before the pay date.
Would somebody handle an HMRC letter for you?
Tax investigation cover is included free for every client we act for.
Did anyone check whether reliefs were claimed?
We review past filings in the first month and tell you what was missed.
What we do for your CIC
The full compliance package for a community interest company, handled in one place.
All Services near you- CIC annual accounts
- Year-end accounts prepared and filed at Companies House, built from bookkeeping we keep current through the year.
- Community interest report
- The annual report on what the company did for the community, prepared alongside your accounts and filed with them.
- Corporation tax
- Computed and filed with the accounts, with the reliefs you are entitled to actually claimed.
- Payroll and VAT
- Monthly payroll, auto-enrolment and VAT returns, so staff are paid and HMRC stays happy.
- CIC formations
- Setting up a community interest company properly, for directors who are engaging us as their accountants going forward.
What knowing the Welsh rules is worth to a local business
A convenience store franchisee came to us still paying full business rates 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 going through his costs.
- What happened
- The relief was applied for and the money came back to the business.
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
Most of the work is ours, and from your side it is mostly a matter of saying yes.
- Before you join
A free introductory chat
Book a time and tell us where the CIC stands. If we cannot genuinely help, we will say so.
- Week one
Fee agreed, records moved
We complete your ID checks, agree the fixed fee in writing, and write to your current accountant for the records. You do not have that conversation.
- First month
Your filings reviewed in full
We go through past accounts, community interest reports and HMRC records. This is where missed reliefs and appealable penalties turn up.
- By ninety days
Every deadline in the diary
Accounts, corporation tax, VAT, payroll and the community interest report are all mapped for the year, so you are not the one chasing us.
Who we are not right for
We do not act for CIS construction subcontractors.
We do not take on registered charities.
We cannot help a business that is already late into an HMRC investigation.
If none of those describe you, run the check and we will tell you what your first month looks like.
CIC accountants Newport: questions people ask
What do CIC accountants in Newport cost?
We work on a fixed monthly fee agreed in writing before any work starts. The figure depends on your turnover, whether you are VAT registered, how many people you pay and how tidy the records are. Calls, meetings and emails are never charged on top, so the price you agree is the price you pay.
How do I switch from my current accountant?
You tell us to go ahead and we do the rest. We complete your ID checks, write to your existing accountant for professional clearance and your records, and get appointed as your agent with HMRC and Companies House. Switching includes a free handover, a free first month and free migration to Xero.
What happens if HMRC writes to my CIC?
You send us the letter and we deal with HMRC directly. Tax investigation cover is included free for every client we act for, rather than sold as an add-on, so there is no separate bill when a check lands. Every HMRC investigation we have handled, we have won.
Do I have to change my bookkeeping software?
No. We work with what you already use and will not force a move mid-year. If you do want to go onto Xero, we migrate you free as part of switching, and we set the bookkeeping up so your accounts and community interest report both come straight out of it.
Do you file the community interest report as well as the accounts?
Yes. CIC formations and ongoing CIC work are a genuine speciality for us, and the community interest report is prepared alongside your year-end accounts and filed with them. That way the report on what you did for the community matches the figures a funder or the regulator sees.
Do you actually understand how a CIC works day to day?
We founded LedgerUp CIC ourselves, a community interest company set up to get young people into accounting and finance careers, so we run the model from the inside. We act for over 100 clients, more than 90 per cent of them across South Wales, including Newport.
Three ways to take the next step
Run the check
Answer a few questions about your CIC and we come back the same working day with what your first month would cover.
Start the checkGot a question about your community interest report?
Ask Mudassir directly and we will answer it, with no charge for the call.
Ask Mudassir a questionStill deciding
The guides set out what a CIC has to file each year and when, so you can check your own position first.
Read the guides