You are required to specify a SIC code when completing your confirmation statement for Companies House. SIC stands for Standard Industrial Classification. This article focuses on Section K of the SIC codes for Financial and insurance businesses. The SIC codes are divided into sections in alphabetical order, ranging from Section A to Section U.
The Office for National Statistics refers to these SIC codes as the UK SIC 2007 codes and use them to produce statistics.
Section K: SIC codes for Financial and insurance
|64201||Activities of agricultural holding companies|
|64202||Activities of production holding companies|
|64203||Activities of construction holding companies|
|64204||Activities of distribution holding companies|
|64205||Activities of financial services holding companies|
|64209||Activities of other holding companies n.e.c.|
|64301||Activities of investment trusts|
|64302||Activities of unit trusts|
|64303||Activities of venture and development capital companies|
|64304||Activities of open-ended investment companies|
|64305||Activities of property unit trusts|
|64306||Activities of real estate investment trusts|
|64921||Credit granting by non-deposit taking finance houses and other specialist consumer credit grantors|
|64922||Activities of mortgage finance companies|
|64929||Other credit granting n.e.c.|
|64991||Security dealing on own account|
|64999||Financial intermediation not elsewhere classified|
|66110||Administration of financial markets|
|66120||Security and commodity contracts dealing activities|
|66190||Activities auxiliary to financial intermediation n.e.c.|
|66210||Risk and damage evaluation|
|66220||Activities of insurance agents and brokers|
|66290||Other activities auxiliary to insurance and pension funding|
|66300||Fund management activities|
Choose the correct SIC codes for your business
You are required to specify at least one SIC code that closely represents your business activity when you complete your confirmation statement for Companies House.
For example, if you are a financial institution providing a mortgage service and you are using a limited company for this business activity you would require to submit a confirmation statement to Companies House at least once every 12 months. You can submit your confirmation statement online or by post.
In your confirmation statement CS01 form, under the Standard Industrial Classification code, the SIC codes that related publishing business activities are as follows:
- 64922 Activities of mortgage finance companies
SIC codes for other businesses not related to Financial and insurance
Click here for a list of SIC codes for other business activities not listed above.
Disclose your business activity in your company accounts
You are also required to disclose your business activities in your company accounts. Usually, the disclosure is in the format of a description rather than using the SIC codes.
For example, you would write in your director’s report under Principal activities heading something like this.
“The principal activity of the company is that of providing mortgage services to the public. There has been no change in the business activity during the year or since the balance sheet date. The director is of the view that the company is well-positioned for the future.”
The director’s report is part of your company accounts.
If you require help with your company’s filings with Companies House or HM Revenue and Customs, feel free to contact our accountants. They will be more than happy to assist you.