What are the basic 'do's' and 'dont's' of CIC transactions?
I've got a prospective client who is a CIC and I need to quickly understand how their business should operate, that is significantly different from normal businesses being run for profit.
- Are they allowed to make profits?
- Can they give dividends to shareholders?
- Is Directors Loan Account allowed?
- Who are their usual customers?
- Do they have a mix of customers and donors?