Call our team +44 (0) 207 566 3939

Blog

How To Find Your Company SIC Code

How To Find Your Company SIC Code

by | Nov 8, 2018 | Blog, business, Company Formation Services, Confirmation Statements | 0 comments

How To Find Your Company SIC Code

When you are looking to set up a limited company you will need to know what classification your business will fall under. There are a number of government recognised five-digit codes that are applied to the type of business that you have. These are called Standard Industrial Codes, or SIC for short.

Your company SIC code is used to categorise and describe what your business does and how it functions. When setting up a new company, you will need to choose the relevant codes that best reflect your business activities. For example, if your company is involved in hairdressing or beauty therapy, then your SIC code would be 96020. If your company produces artisan chocolate confectionery, then your SIC code would be 10821.

Should you want to register your limited company and leave it in a dormant state for the time being, then you can assign it a 99999 SIC code that is used for dormant companies. You would then need to change your company SIC code to something more appropriate for the nature of your business when you decide to start trading with the company.

There are many people who decide to register a company under a specific name to secure and protect that name from being used by anyone else. If they are not ready to start trading as yet or are still undecided about what business to start under that name, then they can register it as a dormant company with the 99999 SIC code until they decide how to use it.

You can check out the complete list of government SIC code listings and decide which SIC code most directly relates to your business operation. Make sure that you choose the most appropriate code to suit your business as your code will be used by Companies House and other official bodies such as HMRC to precisely categorise your company on the public record of companies. This means that the general public can look up your businesses and others in your sector using your SIC code category number.

How To Find Your Company SIC Code Capital Office Virtual Offices London

Multiple SIC codes?

Do I only need one SIC code?

If your business is pretty straightforward in what it does and can be easily defined, then you will only need to choose one single SIC code to categorise your business. For example, if you run an accounting company, a firm of solicitors, or you own a bakery or a plumbing company, then you would only need to choose one code that best describes your industry or profession.

There are other forms of business that are more complex in nature and require more than one SIC code to best describe and categorise their business practices. For example, a company that both imports and exports goods, or sells contrasting products and services. In these cases, you will be allowed to select any number of SIC codes up to the maximum of four to best describe what your business does and cover all functions.

As the nature of many businesses can change over the years, you will need to confirm that your SIC codes are still relevant to your business each year. This is important because a company can change it’s focus and will need to target a different set of customers or clients than it did previously. Should your company still be listed under an old SIC code that no longer applies to your business, then it will make it more difficult for people to find you through searching SIC codes.

How To Find Your Company SIC Code Capital Office Virtual Offices London

Official bodies will need your SIC code

Who will need to know my SIC code?

Since June 2016, every new company formation undertaken needs to provide a relevant SIC code to Companies House on a formation. The code is used by Companies House to categorise your company under its pre-planned activities. If you fail to provide a SIC code upon registration, your application will be rejected by Companies House and you will not be able to form a company.

Your company will also need to provide its SIC code or codes each year while filing your annual confirmation statement should you have any changes to report during the year. This can be quite common in the early days of a new company as it starts to grow and expand and changes are made to its structure, new shareholders or directors added, changes to the PSC register etc.

How To Find Your Company SIC Code Capital Office Virtual Offices London

Correcting your SIC code

How do you change a company SIC code?

You can change your company SIC code should it no longer be relevant to your business, or you start trading a dormant company that was originally registered under the 99999 SIC code. You can amend your SIC code through your confirmation statement filing.

You can do this when your confirmation statement is due for submission, usually 1-year and 14-days following incorporation, or you can choose to file an early confirmation statement at any time if your submission date is a long way off.

What if I pick the wrong SIC code?

If you feel that you selected the wrong SIC code to describe your business practices, then you are not obliged to operate under that SIC code if you believe it is incorrect. You can change your SIC code to one that is more appropriate for your line of work at any time with Companies House by submitting a confirmation statement with your amended details.

How To Find Your Company SIC Code Capital Office Virtual Offices London

CALL US +44 (0) 207 566 3939 if you need any help with your SIC code.

Blog Categories

Contact Details

Tel: 0207 566 3939

Fax: 0207 566 39352

Sales: office@capital-office.co.uk

Support: support@capital-office.co.uk

Our Location

Capital Office
Kemp House
152-160 City Road
London, EC1V 2NX

Opening Hours

Monday - Friday: 9.00AM – 5.00PM
Saturday: Closed
Sunday: Closed

All You Need to Know About Limited Company Shares

All You Need to Know About Limited Company Shares If you’re set to launch a company limited by shares, it’s important for you to understand all there is to know about these limited company shares and what they mean for your business. Before you begin working via your...

Appointing and Removing Company Directors 101

Appointing and Removing Company Directors 101 There may be a number of reasons you’ll want to remove your existing company director and/or appoint a new individual to the role. Whether you’re planning a major reshuffle at the top for the sake of changing course of...

Where Do I Send My Stock Transfer Form?

Where Do I Send My Stock Transfer Form? Congratulations! You’re either a newly formed business, or you’ve been running your brand from a reputable business address for some time. But with the plaudits comes the pressure; not least the overwhelming number of...

7 Important Roles of a Company Director

7 Important Roles of a Company Director You may be the proud owner of a new business, functioning from a credible business address, and envisioning a bright future ahead. But if you’re unsure about exactly what a company director’s role entails, then you may find...

How to Transfer Company Shares

How to Transfer Company Shares If you’re the proud owner of a business, functioning from a reputable business address, you may soon find yourself making important decisions with shareholders regarding the transfer of company shares.  Shares Defined Before we...

Memorandum and Articles of Association 101

Once you’ve obtained a registered office address, your business will be running in earnest along with the presence of a pile-up of paperwork. You can avoid becoming overwhelmed by the inevitable if you familiarise yourself with vital business terms and documents;...

In a hurry and just want some advice?