Written Question·Department for Business and Trade·UIN 23330
Community Interest Companies
Tabled: 13 January 2025
Answered: 20 January 2025
Named DayQuestion
Neil Coyle
Labour — Bermondsey and Old Southwark
To ask the Secretary of State for Business and Trade, whether his Department plans to allow not-for-profit Community Interest Companies to receive the associated advantages of non-profit organisations.
Answer
Justin MaddersWhile Community Interest Companies (CICs) must satisfy the Regulator that their primary purpose is to benefit a community, they can still generate profit, albeit with restrictions on profit distribution and as long as profits are primarily used to benefit...
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