Are SIC Codes Still Used?

What does SIC code 82990 mean?

82990 – Other Business Support Service Activities not Elsewhere Classified.

Companies House uses Standard Industrial Classification (SIC) codes for all companies..

Do SIC codes change?

SIC Codes have changed many time since their initial creation in 1937, however, the US Government discontinued use of the Standard Industrial Classification System in 1997 and replaced it with the North American Industrial Classification System (NAICS). As such, the codes have not been updated in that time.

Are SIC codes used internationally?

The Standard Industrial Classification (SIC) is a system for classifying industries by a four-digit code. Established in the United States in 1937, it is used by government agencies to classify industry areas. The SIC system is also used by agencies in other countries, e.g., by the United Kingdom’s Companies House.

Why are SIC codes used?

The UK Standard Industrial Classification (SIC) codes are used to classify the business activities of a company. Companies House and other government bodies use the codes to identify what the company does and to sort them into their correct business categories.

What is SIC code 5812?

Establishments primarily engaged in the retail sale of prepared food and drinks for on-premise or immediate consumption. Caterers and industrial and institutional food service establishments are also included in this industry.

Can a company have multiple SIC codes?

Companies can have more than one SIC code so that they can reflect the different activities that they do. They will then have to confirm that their SIC codes are still relevant each year. If you are doing a company formation through The Company Warehouse you will be given a searchable list of SIC codes to pick from.

What does SIC code 99999 mean?

code for dormant companiesThe SIC code for dormant companies is 99999. The SIC code for non-trading companies is 74990. If your company becomes dormant or non-trading after a period of activity, you should update the SIC code on the next confirmation statement.

What is the SIC code for general contractor?

SIC Code 1542SIC Code 1542 – General Contractors-Nonresidential Buildings, other than Industrial Buildings and Warehouses is a final level code of the “Construction” Division. There are 36,243 companies classified in this industry in the USA with an estimated employment of 362,051 people.

When were SIC codes last updated?

1987The SIC system was last revised in 1987 and while it was last used by the Census Bureau for the 1992 Economic Census, many databases still include it as part of their indexing. In some cases, particularly when it comes to retail, using SIC codes is better or more efficient than using NAICS codes.

Can I add SIC code Companies House?

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.

Can I change SIC code Companies House?

There’s no legal requirement for you to change your SIC code before you submit your annual return. Some companies decide to submit an early confirmation statement, though. If you’ve opened your new company, you’ll be able to find your company’s SIC code on the Companies House website.

How are SIC codes assigned?

SIC Codes are no longer assigned by the US Government as they have been replaced by NAICS (North American Industrial Classification System). … The SEC does not assign codes, however, when a company registers their IPO, they will select an SIC code by assessing its primary source of revenue.