What is a SIC Code
Submitted by Rob Brown of Derby, he has asked What is a SIC Code?
A SIC code is a five-digit code known as a Standard Industrial Classification code and is used for classifying a business into an industry.
Since 2007 the industrial classifcation system has aligned with the European Union system and is 5 digits long. This has also allowed the introduction of IT companies and breaking down the various sectors within that industry.
When registering your company at Companies House, you must supply a SIC code for your business to sit in. You can provide up to 4 SIC codes.
Companies House offer a page of SIC codes and its generally a good idea to go through these SIC codes to find out the most relevant to your business. A link has been provided below.
It is extremely important to have a SIC code thats relevant to your business, even if the company is dormant or not trading. Companies House and other Government Bodies such as HMRC use the codes to identify what a company does and to sort them into the correct categories.
Yes, it is possible to change your SIC code. You can do this when submitting your confirmation statement to companies house.
You can find your company SIC code by going to Companies House and searching for your business, it will then list the company details including any SIC codes that you have chosen for your business.
A company needs a mnimum of 1 SIC code but you can choose up to 4 relevant SIC codes for your business and to describe your company’s activities and specialist areas.
If you are a dormant company you can supply the SIC code 99999. For non-trading companies the SIC code is 74990.
If you have been trading and the company becomes non-trading or dormant, then the SIC code must be updated on the next Confirmation Statement submitted to Companies House.