All our classes and socials will be free from 1st July until the end of August!
Cambridge Swing Dance is a Community Interest Company (CIC). A CIC is a special type of limited company which exists to benefit the community rather than private shareholders. A CIC is subject to VAT thresholds on their income, after which the company is subject to VAT charges. In this financial year we have unexpectedly approached this threshold. It's important to note that this is an income threshold, it's not related to profit, so spending more money won't keep us under the threshold.
To avoid hitting this threshold this time, the committee have decided to minimise the company's income until the new financial year in September. This provides us a bit more time to sit down with our accountants and figure out a way forward when this problem arises again next year.
Our principle is always to try and give back to our community as much as possible when opportunities arise, for example lowering prices where possible in 2023, and raising teaching and DJ payments this year. This is another case where we decided the community can benefit from this situation with a few weeks of free dancing. Enjoy the summer!
