The SIC 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 (previously known as the annual return), but now entrepreneurs-to-be must provide a code when forming their 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 company’s SIC code is just an indicator of the company’s 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.
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.