Check Your Standard Industrial Classification (SIC)
When incorporating a limited company in the UK, you must provide one or more Standard Industrial Classification (SIC) codes. These five-digit codes classify your business activities, ensuring consistency in the information held by Companies House and enabling accurate tracking and reporting of different UK business types.
What are SIC Codes?
Standard Industrial Classification (SIC) codes are 5-digit numbers used to classify business activities in the UK. Companies House places these codes on public record for each registered company. Introduced in 1948 by the Office for National Statistics (ONS), SIC codes help classify business establishments by economic activity. This promotes uniformity in data collection, analysis, and reporting, aiding both government and non-government bodies in classifying industrial activities.
Energy Suppliers and SIC Codes
Energy suppliers use SIC codes to classify businesses and assess risk, with some sectors deemed higher risk due to factors like management turnover. Suppliers prefer low credit risk businesses, so accurately identifying and using the appropriate SIC codes is vital for securing favourable business conditions.
Importance of SIC Codes
SIC codes are essential for tracking and reporting on UK businesses, helping to identify trends and changes in the business landscape. There are over 700 SIC codes, each representing a specific type of business activity, grouped into sectors for easy reference:
- Section A: Agriculture, Forestry and Fishing
- Section B: Mining and Quarrying
- Section C: Manufacturing
- Section D: Electricity, Gas, Steam, and Air Conditioning Supply
- Section E: Water Supply, Sewerage, Waste Management, and Remediation Activities
- Section F: Construction
- Section G: Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles
- Section H: Transportation and Storage
- Section I: Accommodation and Food Service Activities
- Section J: Information and Communication
- Section K: Financial and Insurance Activities
- Section L: Real Estate Activities
- Section M: Professional, Scientific and Technical Activities
- Section N: Administrative and Support Service Activities
- Section O: Public Administration and Defence; Compulsory Social Security
- Section P: Education
- Section Q: Human Health and Social Work Activities
- Section R: Arts, Entertainment and Recreation
- Section S: Other Service Activities
- Section T: Activities of Households as Employers; Undifferentiated Goods- and Services-Producing Activities of Households for Own Use
- Section U: Activities of Extraterritorial Organisations and Bodies
Many SIC codes are highly specific, reflecting the diverse range of business activities in the UK. For instance:
- 01110: Growing of cereals (except rice), leguminous crops, and oil seeds
- 01120: Growing of rice
- 01130: Growing of vegetables and melons, roots, and tubers
- 01140: Growing of sugar cane
- 01150: Growing of tobacco
- 01160: Growing of fibre crops
- 01190: Growing of other non-perennial crops
- 01210: Growing of grapes
- 01220: Growing of tropical and subtropical fruits
- 01230: Growing of citrus fruits
- 01240: Growing of pome fruits and stone fruits
- 01250: Growing of other tree and bush fruits and nuts
- 01260: Growing of oleaginous fruits
For a comprehensive list of SIC codes, visit the Companies House website.
Conclusion
Understanding and correctly assigning SIC codes is crucial when incorporating your company in the UK. These codes ensure consistency and accuracy in information maintained by Companies House, facilitating the tracking and analysis of business trends. Proper use of SIC codes not only helps in regulatory compliance but also in securing better business conditions.
For more information and to find your SIC code, visit the Companies House website.