What is the SIC code and why do some limited companies not have one?

When you open any of our company credit reports, you’ll see a field dedicated to the ‘Nature of business (SIC)’. Sometimes this field will be populated with a 5 digit number and sometimes it will be blank. In this post we look at what this code is and why the relevant field is sometimes empty.

What is the SIC code?

The SIC (Standard Industry Classification) code is a 5 figure number that defines a limited company’s nature of business – the idea is that every possible industry is covered by a code. Here are some examples:

43991: Scaffold erection
50300: Inland passenger water transport
79120: Tour operator activities
93120: Activities of sport clubs
99000: Activities of extraterritorial organisations and bodies
99999: Dormant Company

You can view the full list of codes here.

This code is selected by the company when it files annual returns, which brings us to the second part of the post…

Why do some limited companies not have a SIC code?

Because they’ve not yet filed an annual return. Once an annual return has been filed and a new company credit report bought – the SIC code will be displayed.

Do you have any questions? Leave a comment and we’ll be in touch.

By Mathew Aitken at MadeSimple – Find Mathew on Google+