Companies House and SIC 2007

The United Kingdom Standard Industrial Classification of Economic Activities (SIC) is used to classify business establishments and other standard units by the type of economic activity in which they are engaged. The new version of these codes (SIC 2007) is being adopted by the UK as from 1st January 2008. This Q&A notice explains why Companies House will not be in a position to move to the new version of the codes as from 1st January 2008.

1. What is SIC 2007?

It’s the latest version of the Standard Industrial Classification which was last revised in 2003. It’s a numerical classification that Companies House adopted to identify company principal business activities which are required to be stated on the annual return (form 363) each year.

2. When does it come into force?

The new classification system is adopted by the UK on 1st January 2008.

3. What is CH doing to adopt the new version?

Due to the imminent implementation of a new internal IT system the new SIC  codes will not be adopted immediately by Companies House.

4. When will CH adopt SIC 2007?

Once our new IT system is up and running and has had a chance to bed in we will look to implement the new version of the codes. We will let customers know in plenty of time prior to the change being made.

5. What will happen if I use an SIC 2007 code instead of an SIC 2003 code after 1st Jan 2008?

We will convert any SIC 2007 code used to SIC 2003 on our records. But you should ensure that you continue to use the current version (SIC 2003) of the codes. This version will not change on our guidance, on the pre printed return or our electronic filing systems.

6. Why can’t CH just accept SIC 2007 codes from 1st Jan 2008?

The classification system is prescribed by statutory instrument and the current prescribed scheme is SIC 2003. CH cannot accept SIC 2007 codes until the scheme is changed to that version by an amended statutory instrument. We will not be in a position to change the scheme until we know for certain when we will be able to implement our new IT system.

7. Is there anything different my company has to do after 1st Jan 2008?

No, just carry on using your current SIC 2003 code when filing an annual return, we will tell customers when we are ready to accept the new codes.

8. Where can I get more information about SIC 2007?

The website of the Office for National Statistics by following this link:

www.statistics.gov.uk/sic

Alternatively contact ONS by email –

classifications.helpdesk@ons.gov.uk