Re: Coventry United away game

By VoR17/5 20:50Sat May 17 20:50:24 2025In response to Re: Coventry United away game

Views: 951

As I see it!

NTFC CIC appear to be a limited company, limited by directorship, whereby the directors take no financial responsibility, because they are only acting as agents & can walk away at any time.

As a limited company, NTFC CIC will be liable to pay Corporation Tax on their profits & VAT.

As far as raising funds is concerned, they can ask the supporters to pay a joining fee & an annual subscription.

As far as donations are concerned, the CIC is not a Charity & so tax will be payable on gifts.

The alternative would be to convert to a CIC limited by shares & initiate a share issue.

If this option was taken up, the shareholders would expect to be paid a fixed annual dividend, irrespective of the CIC's financial performance, whether in profit or loss.

It will be a challenge.

Edited by VoR at 20:51:51 on 17th May 2025
Edited by VoR at 20:52:40 on 17th May 2025