Charitable Incorporated Organisation (CIO) or Charitable Co. Ltd by Guarantee?

[bossykate]

Hi

I'm hoping a clever Mumsnetter can help me with this rather niche query.

I'm involved in setting up a new Chamber Orchestra (ooh get me) and we now need a formal structure. We've narrowed it down to CIO or Charitable Co. Ltd by Guarantee.

Can anyone help me with which to choose? I'd hoped to find guidance on which structure to choose on line, there's nothing specific enough.

Thanks in advance

I'm not an expert on this, but I think both options give the benefit of limited liability and separate legal personality for the charity.

I think CIO came into being as a possibility more recently. With it, the trustees only have to deal with the Charity Commissioners (OSCR in Scotland) , but with a co limited by guarantee you also have deal with Companies House. This may have an effect on professional fees you incur.

I'm looking at this just now - have just become treasurer of a charity that is a co ltd by guarantee and have been considering whether it's worth changing to a (S) CIO (S as in Scotland!). Couldn't see any reason to make the change, until I looked at the accountants fees. I'm treasurer of another charity which is a SCIO - we pay just over £100 for the annual accounts / return. The charity which is a co limited by guarantee pays more like £500.

So - I would suggest asking a local accountancy firm what their view is.

Thank you!

Good luck! Let me know how you get on - I'll be off asking similar questions!

This article is helpful www.theguardian.com/voluntary-sector-network/2013/jan/21/register-charitable-incorporated-organisation

Thanks v much x