Applications for registration as a Charitable Incorporated Organisation
The Charitable Incorporated Organisation (CIO) is a new legal form for charities (registered with the Commission, not with Companies House) that provides some of the benefits of being a company, without all of the associated burdens. Trustees of incorporated charities will have limited or no liability as the charity will be able to enter into contracts in its own right.
According to the Commission, this structure will be most beneficial for small to medium sized charities which employ staff or enter into contracts. While running a CIO should be simpler than establishing a charitable company, it will not be as straightforward as running an unincorporated association or trust.
Although no CIOs will be able to join the Register of Charities until 3 January 2013, the Commission has confirmed that it will begin accepting and considering online CIO applications for brand new charities with incomes of over £5,000 from 12 noon Monday 10 December 2012 (further details and timetable is available on the Commission’s website).
Date: 19th December, 2012
Articles from this Author
Our Corporate Finance Team has been shortlisted for Corporate Finance Advisory Firm of the Year at the Insider Cent… twitter.com/i/web/status/1…
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole