From 2018 Charitable Companies can convert to CIOs

06 Dec 2017

Parliament recently passed legislation to allow charitable companies to convert to a Charitable Incorporated Organisation (CIO). This will allow charitable companies to report to just one regulator (the Charity Commission and, for smaller charities, to take advantage of simpler accounting requirements.

Applications will be allowed on a staggered basis with small organisations with income under £12,500 able to apply from 1st January 2018 and larger sizes staggered throughout the year.

Additionally, all existing as well as new Charitable Incorporated Organisations will be listed on the Business names index held by Companies House. This will help protect CIO names so that their name is not taken up by a company or other CIO.

More information on the Charity Commission website here