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How can I change my SIC code (Standard Industrial Classification code)?
The SIC (Standard Industrial Classification) code is a 5-digit code that defines the industry or industries that your limited company is operating in. It used to be that you first selected an SIC code when filing a confirmation statement, but now entrepreneurs-to-be must provide a code when registering a limited company. This is likely to cause an increase in the amount of people who want to change their SIC code. In this post we’ll look at how you can do this.
First things first, it’s important to note that a UK business SIC code is just an indicator of the company’s business activity – if you do find that your company is moving in an altogether different direction from what you anticipated, that is absolutely fine – you just need to update your SIC code to notify government bodies of this.
Key Takeaways
- Changing your SIC code is important when your business shifts focus or operates in a different industry, ensuring accurate record-keeping with government bodies.
- To update your SIC code, you simply need to file a confirmation statement with Companies House, either when it's due or by submitting an early statement.
- A company can list up to four SIC codes to accurately reflect its activities.
- The full list of SIC codes and their descriptions is available through Companies House and can be referenced when updating your code.
- Once the new SIC code(s) are filed and accepted, they are officially recorded, ensuring your business activity is up-to-date.
There’s one way to update your company’s SIC code; you need to file a confirmation statement.
You can either wait until your confirmation statement is due (a company’s first confirmation statement is due 1-year and 14-days after incorporation) or you can file an early confirmation statement.
Simply enter the new code or codes (a company can have up to four codes) in the relevant section of the confirmation statement. You will find a full list of the codes and their corresponding descriptions here. Once filed and accepted at Companies House, the new information will be on record.
Would you like to update your company’s SIC code? See here for information about our different confirmation statement services
FAQs
How do I change my SIC code for my business?
To change your SIC code, you need to file a confirmation statement with Companies House. You can either wait for your next due date or file an early confirmation statement. Simply select the new SIC code(s) and submit them through the confirmation statement form.
How often do I need to update my SIC code?
You should update your SIC code whenever your business activities change. If you switch industries or expand into new areas, updating your SIC code ensures your company records remain accurate.
How many SIC codes can I have for my business?
Your company can have up to four SIC codes to reflect the various business activities you engage in. Each code should accurately describe the main areas of your business operations.
Where can I find a list of SIC codes?
You can find the full list of SIC codes and their descriptions on Companies House's website. This list will help you select the correct codes when updating your confirmation statement.
When is the best time to update my SIC code?
You can update your SIC code at any time by filing a confirmation statement. While you can wait for your next confirmation statement due date, filing early is also possible if your business has undergone a significant change.
What happens after I update my SIC code?
Once you file your updated SIC code with Companies House, the new information will be officially recorded. This ensures your company’s business activities are accurately represented in public records.
Do I need to inform anyone else when I change my SIC code?
Once your new SIC code is filed with Companies House, you don't need to notify other parties directly. However, it's a good practice to ensure that your accounting records and any relevant business contacts are up to date.