Put simply, a Standard Industrial Classification (SIC) code is a five-digit code used by Companies House and the Office for National Statistics to systematically identify and categorise the principal business activities of UK limited companies according to economic activity.
The current list of condensed SIC codes can be viewed on the Companies House website. The codes are classified into trade groups under which a full classification is provided within each group. For instance: Codes under “Section F” concerns Construction. Within this there are codes for trades such as the construction of “bridges and tunnels” (42130) and “domestic buildings” (41202).
When do I need a SIC Code?
The need to supply a SIC code during the company at formation was introduced on 30th June 2016. Previously, the SIC code was only necessarily on the first annual return or upon the registration of VAT. When registering a company at least one SIC code from the condensed list must be provided, even if the company is dormant (99999), or non-trading (74990). Up to four SIC codes can be accepted.
Can I change my Code?
SIC codes must be confirmed and updated each year on the Confirmation Statement. If your company stops being dormant, or its nature of business changes, the correct code should be entered on the next Confirmation Statement which can be submitted early if the need for the code change is urgent.
For more information on forming your company contact us online or give us a call on 028 9055 9955.