What the CIC34 is for
The CIC34 shows that the company is still satisfying the community interest test, and that it is engaging with its stakeholders in activities that benefit the community1. Reports are put on the public register, so the Regulator suggests treating it as a chance to show what the CIC has achieved; it doesn’t have to be especially detailed, but it should pick out the highlights2.
Simplified or detailed
There are two versions. Most CICs complete the simplified report2. The detailed report is for CICs with more complex finances: for example, one that has paid performance-related interest on a debt or debenture, or, for a CIC limited by shares, one that has declared dividends for the year or any of the four years before. It may need professional advice for its financial sections2. A CIC paying dividends must also show it kept within the dividend cap, which limits total dividends to no more than 35% of the CIC’s profits1.
The simplified report, part by part
The simplified CIC34 has five parts. Each one has wording you must use if it doesn’t apply, and the Regulator’s form spells it out2:
| Part | What to write | If it doesn’t apply, write |
|---|---|---|
| 1. General description of the company’s activities and impact | What the CIC did in the year and how it benefited the community | n/a: every CIC completes this2 |
| 2. Consultation with stakeholders | Who your stakeholders are, how you consulted them, and what you changed as a result | “There has been no stakeholder consultation held”2 |
| 3. Directors’ remuneration | What the directors received, or where in the accounts it is shown | “no remuneration was received by the directors”2 |
| 4. Transfers of assets other than for full consideration | Any asset given to an asset-locked body or for the community’s benefit, with its amount or a fair estimate | “no transfer of assets other than for full consideration has been made”2 |
| 5. Signatory | Signed and dated by a director, with the date written in full | n/a2 |
A “stakeholder” is any person or organisation affected by the company’s activities2. The Regulator gives simple examples of consultation: newsletters, stakeholder meetings, a website with a way to respond, or a formal consultation before a big decision1. Write the year end in full, matching the accounts, and use the company name exactly as it appears on the accounts: reports with the wrong date format are rejected2.
The figures above are made up to show the shape of each answer; the Regulator also publishes a completed example of its own with the form2.
Directors’ pay and gifts of assets
A CIC’s directors may be paid, including a salary, but the Regulator expects pay to be reasonable and transparent, and it, or the members, may act if pay looks too high1. A transfer of assets for less than full value needs the Regulator’s consent and must be reported in Part 41. These rules follow from the asset lock: a CIC’s assets and profits are meant to be used for the community it serves1.
Filing it with your accounts
The report goes with the accounts and the £15 fee3. Online, you sign in with the company’s authentication code and pay by card; you can’t use the WebFiling service for CIC accounts3. Software can file them as iXBRL package accounts, though not every package handles CICs3. On paper, you attach the CIC34 to the accounts and post both to Companies House with a cheque for £152,3.
Accounts and report are due 9 months after the year end, like any private company’s accounts4. For a year ending 31 March 2026, that is 31 December 2026. Check your own CIC’s dates with the deadline checker.
Since accounting periods beginning on 6 April 2025, a CIC is small if it meets two of: turnover of £15 million or less, a balance sheet of £7.5 million or less, and 50 employees or fewer3.
A dormant CIC
Every CIC, including a dormant one, files a CIC report with its accounts. The Regulator accepts a CIC being dormant while it prepares to trade: say in the report what it has been doing to get ready, why it hasn’t started, and when it expects to. If there was no activity at all, say it was dormant throughout the year under each part1. The rest of the dormant company rules are in dormant companies.
Closing a CIC
A CIC can only stop being a CIC by being dissolved, or by converting to a charity. It can’t become an ordinary company3. To strike one off you file form DS01 (£13 online, £18 on paper), and if you want to transfer assets for less than full value to an asset-locked body not named in the articles, you need the Regulator’s consent on form CIC533.
CIC or charity?
Both serve a purpose beyond profit, but they report differently: a CIC reports to Companies House and the CIC Regulator, while a registered charity in England and Wales reports to the Charity Commission, through the Commission’s own online service. Fileyear prepares a CIC’s accounts and tagged CIC34 as the package Companies House’s upload service takes, and files the Company Tax Return with HMRC; it doesn’t file for charities.