As soon as money is involved, the clearer these rules are the better to avoid misunderstandings and settle tax and payment issues.

Your rules may take the form of a legal document, or a written constitution, and there are several different formal and legally recognised structures which organisations can adopt or change to as they grow. Depending on the type of organisation you choose, you may also be able to limit your liability if the organisation goes bankrupt or is wound up.

A range of possible structures which a group could work under are set out in this section, together with some of the pros and cons of each option.

If you are considering setting up a studio or gallery space with a group of artists, you will probably find it easier – and reduce the chance of problems in the future – if you agree some rules or terms within which you will operate.  These can be as formal or informal as you like, but they should be written down so everyone knows their responsibilities.

Community Interest Company

A community interest company (CIC) is a limited company (either by shares or guarantee) that provide benefits to a community, or a specific section of a community.  It has the flexibility of a co… Continue Reading Community Interest Company

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