CIC Software

[DWS]

Looking at possibly taking on a CIC client but I use Iris Elements at the moment and that does not prepare CIC accounts.
Just looking at options of software that can produce and submit the CIC accounts along with the CIC34 form as well as submit the CT600 to HMRC.
Any ideas on the best package to use bearing in mind I will only have the one CIC client?
Thanks

 

[MyAccountantOnline]

Looking at possibly taking on a CIC client but I use Iris Elements at the moment and that does not prepare CIC accounts.
Just looking at options of software that can produce and submit the CIC accounts along with the CIC34 form as well as submit the CT600 to HMRC.
Any ideas on the best package to use bearing in mind I will only have the one CIC client?
Thanks

I suspect it may not be worthwhile but have you checked the price for Iris Accounts Production Enterprise which I believe will deal with a CIC?

 

[MyAccountantOnline]

My other thought - one I used to use - TaxCalc

 

[DWS]

My other thought - one I used to use - TaxCalc

My other thought - one I used to use - TaxCalc

Hi Nicola
Yes tried getting a price for Iris Enterprise but just kept being sent around the houses unless arranging a chat and a demo.
I will take a look at Taxcalc, actually thinking of moving from Iris to Taxcalc for my other clients.
Thanks for the help

 

[MyAccountantOnline]

Hi Nicola
Yes tried getting a price for Iris Enterprise but just kept being sent around the houses unless arranging a chat and a demo.
I will take a look at Taxcalc, actually thinking of moving from Iris to Taxcalc for my other clients.
Thanks for the help

You are very welcome - hope all goes well.

It's something I'm considering too.

 

[UK Contractor Accountant]

I will take a look at Taxcalc, actually thinking of moving from Iris to Taxcalc for my other clients.
Thanks for the help

Take a look at TaxPad - I think these are the guys who developed taxfiler before they sold out to Iris.

£199 per month for unlimited accounts, corp tax & SA Tax - up to 10 users

 

[MyAccountantOnline]

Take a look at TaxPad - I think these are the guys who developed taxfiler before they sold out to Iris.

£199 per month for unlimited accounts, corp tax & SA Tax - up to 10 users

I tried it back in November it looked good but needed alot of further development to make it ready to use then.

I dont know if it deals with a CIC?

As a former (very happy) TaxFiler user I'm also concerned they'd sell up again to Iris.

 

[DWS]

Take a look at TaxPad - I think these are the guys who developed taxfiler before they sold out to Iris.

£199 per month for unlimited accounts, corp tax & SA Tax - up to 10 users

I did look at these before because of the link to Taxfiler, but way to expensive and as Nicola says how long before they sell up to a bigger Company again, which seems to be the way.
But thanks for the reply

---

 

[DWS]

I tried it back in November it looked good but needed alot of further development to make it ready to use then.

I dont know if it deals with a CIC?

As a former (very happy) TaxFiler user I'm also concerned they'd sell up again to Iris.

Still looking to find anything even remotely reasonable in price, the CIC only has about 20 transactions a month so the actual accounts prep is relatively easy and pretty much the same as a Ltd Co.
I am now exploring submitting direct on the Companies House website although not sure I can do this as an Accountant or even submitting on paper by post.
Has anyone submitted paper accounts to CH lately? Is it still a viable option?
Thanks

 

[Ziggy2024]

Still looking to find anything even remotely reasonable in price, the CIC only has about 20 transactions a month so the actual accounts prep is relatively easy and pretty much the same as a Ltd Co.
I am now exploring submitting direct on the Companies House website although not sure I can do this as an Accountant or even submitting on paper by post.
Has anyone submitted paper accounts to CH lately? Is it still a viable option?
Thanks

You can still file on paper, sent some just before Christmas. You have to send in a CIC report as well which our software doesn't seem capable of attaching.

 

[DWS]

You can still file on paper, sent some just before Christmas. You have to send in a CIC report as well which our software doesn't seem capable of attaching.

Thanks for this
That’s the problem I am having not being able to attach CIC34, do you mind me asking what accounting standards you reported under?
I have seen some saying that it has to be under FR102 but others saying if submitting by post then you can use micro entity.

 

[PCD]

I managed to use Iris Elements for a CIC last year. The accounts were done as normal on Iris Elements and the CIC34 was downloaded and completed separately. The two documents were submitted direct to Companies House via their website (can't post a link) . I ended up re-entering much of the information but I think this was because I chose the wrong option on the second screen.

 

[UK Contractor Accountant]

I have seen some saying that it has to be under FR102

i would have thought with a CIC transparency is the key especially if after grant funding etc which is why many CIC's file full accounts using FRS102.

 

[Ziggy2024]

Thanks for this
That’s the problem I am having not being able to attach CIC34, do you mind me asking what accounting standards you reported under?
I have seen some saying that it has to be under FR102 but others saying if submitting by post then you can use micro entity.

It was reported under FRS102, I tend to avoid FRS105 if I can though so can't say if it could have been filed under that.

 

[DWS]

I managed to use Iris Elements for a CIC last year. The accounts were done as normal on Iris Elements and the CIC34 was downloaded and completed separately. The two documents were submitted direct to Companies House via their website (can't post a link) . I ended up re-entering much of the information but I think this was because I chose the wrong option on the second screen.

Thanks
I use Iris Elements and this is what my next plan was, prepare accounts and then submit the CT600 using the software and post the accounts to CH along with the CIC34 or try and submit using the CH website.
However Iris Elements will not let me change from a Company limited by shares to a Company limited by guarantee for some reason which means the notes in the statutory information is incorrect.
How did you get over this?

 

[DWS]

i would have thought with a CIC transparency is the key especially if after grant funding etc which is why many CIC's file full accounts using FRS102.

It was reported under FRS102, I tend to avoid FRS105 if I can though so can't say if it could have been filed under that.

Thanks both

 

[PCD]

However Iris Elements will not let me change from a Company limited by shares to a Company limited by guarantee for some reason which means the notes in the statutory information is incorrect.
How did you get over this?

Don't remember having this problem. The client was set up as limited by guarantee when first entered onto Iris Elements. Not sure whether this was included in the information Iris obtained from Companies House or me selecting the type on setup. Looking at it now the business type boxes are greyed out, with no obvious way of changing.

 

[DWS]

Don't remember having this problem. The client was set up as limited by guarantee when first entered onto Iris Elements. Not sure whether this was included in the information Iris obtained from Companies House or me selecting the type on setup. Looking at it now the business type boxes are greyed out, with no obvious way of changing.

Thanks
I tried using the default set up where Iris takes the information from CH but that come up with limited by shares in the notes, I then manually input all the information including that it was a CIC and limited by guarantee and it all saved and I thought that solved it but when I checked the final accounts it still said in the notes that the Company was limited by shares.
When I googled the problem it did say that this happens unless the Company was already set up before being Iris Elements, did you transfer this client to Iris elements from another software like Taxfiler by any chance?

 

[PCD]

did you transfer this client to Iris elements from another like Taxfiler by any chance?

No it was the first year for the company.

 

[DWS]

No it was the first year for the company.

Ok thanks,
strange, this is the first year for this Company, oh well tried to help out a CIC but time for me to admit defeat and say they need to find some else.
Thanks for the help

 

[eteb3]

The CIC34 should not be produced by software: it should be a meaningful review by the directors.

You can prepare the accounts on your normal company accounts preparation software (a CIC is at bottom a normal company, after all). If your package won't handle the CIC34, or insists on calling it a share company (this is very common), tweak, then file on paper:

Preparing and filing Companies House accounts

www.gov.uk

 

[DWS]

The CIC34 should not be produced by software: it should be a meaningful review by the directors.

You can prepare the accounts on your normal company accounts preparation software (a CIC is at bottom a normal company, after all). If your package won't handle the CIC34, or insists on calling it a share company (this is very common), tweak, then file on paper:

Thanks
I didn’t expect the software to produce the CIC34 but I did expect to be able to upload and send with the accounts, which is not possible.
Because of that my new plan was to prepare the accounts on the software and either send by post or submit through CH, but I cannot change the statutory notes from shares to guarantee, so unable to ‘tweak’ to suit

 

[eteb3]

I cannot change the statutory notes from shares to guarantee, so unable to ‘tweak’ to suit

PDF editor? Tippex??

But this is a regular pita. If anyone does know software that will do guarantee companies I’d love to know