The first Scottish Charitable Incorporated Trust, or SCIO, has now been granted charitable status by OSCR. A new legal form unique to Scottish charities, a SCIO can enter into contracts, employ staff and own property and provides protection against personal liability for charity trustees. Regulation is simpler for SCIOs as, unlike charities that are also companies, they are regulated only by OSCR.

The new SCIOs have been introduced on a phased basis. From 1 January 2012 existing charitable companys and charitable industrial and provident societies will be able to apply to convert to SCIOs, however new applicants and other forms of charities have been able to apply since 1 April 2011.

OSCR has produced new guidelines and information on its website.

To find out more, contact us for a completely free consultation. In the first instance, contact Mark Gallacher, for a confidential discussion on how we can help you.

Mark Gallacher 01382 312100 mark.gallacher@eqaccountants.co.uk