SIC codes for extraterritorial organisations

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 U of the SIC codes for Activities of extraterritorial organisations and bodies. 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 U: SIC codes for extraterritorial organisations

SIC codeDescription
99000Activities of extraterritorial organisations and bodies
99999Dormant Company
Source: Companies House

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 your company has not been traded since its incorporation, you must also specify a SIC code in your confirmation statement to Companies House. 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 represent your business activity is 99999 Dormant company.

SIC codes for other businesses not related to extraterritorial organisations

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 company has been dormant for the past 12 months.”

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.

Received HMRC late filing penalty

Received HMRC late filing penalty for failure to submit your company’s corporation tax return. The HM Revenue and Customs (HMRC) automatically send out late filing penalty as soon as your tax return is overdue.

Your company is dormant

Do not ignore this penalty notice even if your company is dormant and you have nothing to declare in your company’s tax return.

In this instance, you must write to HMRC to let them know that your company is dormant. Enclose a copy of your dormant company account to prove it.

When writing to HMRC, you must include your Unique Tax Reference (UTR) number. With your UTR number, HMRC staff would have a big smile on their face when processing your company’s tax affairs.

Bear in mind, HMRC staff are handling 4,316,395 companies in the United Kingdom. Your allocated UTR would give them the lightning speed to access and update your company’s tax affairs.

HMRC may waive your late filing penalty in this circumstance if you can prove your company is dormant.

To avoid you received HMRC late filing penalty again in the future, write to HMRC to let them know about your company’s trading status at the same time you submit your confirmation statement and dormant account with Companies House.

Your company is trading

In this instance, you must complete the CT600 form for your company and submit it to HMRC via a trusted online software platform.

In addition, you must pay the late filing penalty. They are many ways you can pay HMRC – by debit or credit card, a bank transfer, through a Post Office and by cheque.

Take note that the late filing penalty from HMRC is separate from the late filing penalty issued by Companies House for late filing of your company accounts.

Audit exemption

Every limited company is required to have their company accounts audited by a Registered Auditor unless they are entitled to audit exemption.

Audit exemption threshold

To file non-audited accounts with Companies House, your company must meet the following criteria.

The thresholdCompany accounts begin 1 Jan 2016Company accounts prior 1 Jan 2016
Sales less than£10.2 million£6.5 million
Business assets worth less than£5.1 million£3.26 million
No. of staff less than5050

Your company must engage a Registered Auditor to audit your company accounts. Especially, if your sales and business assets are worth more than the audit exemption threshold.

This aside, however, your bank or major creditors or investors may require your company accounts to be audited under their terms of lending. In this case, your company must appoint an auditor to fulfil the requirement.

Also, take note that your company shareholders who hold more than ten per cent of your issued share capital could request your company accounts to be audited, in this situation your audit exemption entitlement is waived.

Dormant Company

A dormant company is qualified for audit exemption and is eligible to file a dormant account at the same time you submit your confirmation statement with Companies House.

However, your dormant company must not be part of a group of companies that required audit by law.

Concurrently, company registered as a public limited company (PLC) must file audited account even if your PLC is dormant. If you would like to submit unaudited dormant account then you must first re-register your company from a PLC to a private limited company.

Businesses do not qualify for audit exemption

Limited company with the following principal business activities are not qualify for audit exemption by defaults. In other words, your company must submit audited company accounts with Companies House.

  • A public limited company.
  • A company is parent or a subsidiary a group, with the group turnover exceed the audit threshold.
  • An authorised insurance company or carrying out insurance market activity.
  • A company involved in banking or issuing e-money.
  • A Markets in Financial Instruments Directive (MiFID) investment firm or an Undertakings for Collective Investment in Transferable Securities (UCITS) management company.
  • A corporate body and its shares have been traded on a regulated market in a European state.

Confirmation Statement for dormant company

Confirmation Statement for a dormant company is compulsory for a company registered with Companies House in the United Kingdom.

Your company is classified as a dormant company under the Companies Act 2006 if there are no significant transactions during the financial period.

You have 14 days to deliver your Confirmation Statement for your dormant. Both your confirmation statement date and filing due date are prominently published on Companies House website.

First time submit Confirmation Statement

First time filing your Confirmation Statement required a bit of due diligence to ensure the information given to Companies House for a public record is complete and accurate and still valid as at the date of your Confirmation Statement.

You must provide the following information with Companies House:

Changes to your company information

Any changes to your company’s information from the date of incorporation or your last annual return date or your last confirmation statement date, relevant Companies House forms must be delivered before or at the same time filing your Confirmation Statement.

For examples, if you have changed your registered office address from your home address to an address service provider you would require to deliver the form AD01 with Companies House. You can file the AD01 online or on paper.

You may also require to file the form AD02 if you continue to keep your company registers at your home address. The form AD02 is to register your home address as your SAIL address. However, you do not have to file the form AD02 if your company registers would be kept at your company’s registered office address.

You can change your director’s personal information with Companies House by filing the form CH01. Whilst use the form TM01 to remove a director and the form AP01 to appoint a new director.

Another change could be that when your dormant company was set up a secretary was appointed and you are using nominee service. The appointment of secretary for a private limited company is now optional. You can remove your company secretary by filing the form TM02.

Nothing has changed since the last Confirmation Statement

If there are no changes to your company’s information since your last Confirmation Statement date. You would only need to confirm this fact by filing the confirmation statement main form CS01, If you are filing the CS01 on paper, your company director or sectary must sign and date the form.

You would require your authentication code if you are filing your Confirmation Statement online. The code is the electronic equivalent of your company director’s or secretary’s signature.

Confirmation statement fee

There is a fee payable to Companies House for filing your Confirmation Statement CS01 form. £40 for paper filing and £13 for online filing. You have the options to pay by Paypal, UK debit cards or credit cards.

Dormant company account

Beside filing confirmation statement for your dormant company with Companies House, the other document your dormant company must file with Companies House other than Confirmation Statement is the dormant account. There is a late filing penalty for late filing of your dormant account late even just by one day.

You may file your dormant account online, again to do this you would require your authentication code again or you may deliver your dormant account on paper in this case your director must sign and date it.

HM Revenue and Customs and CT600

Even though your company is dormant, you must inform HM Revenue and Customs that your trading status is dormant so that they could update your company’s record accordingly and would not chase you to file CT600.

You will get late filing penalty for failing to deliver your CT600 to HM Revenue and Customs on time.

Use your Unique Tax Reference number when you write to HM Revenue and Customs about your trading status.

No longer want to keep your dormant company

You may apply to Companies House to dissolve your dormant company if you no longer want to keep it. The dissolution process will take about two months to complete. Our accountants can help you with this application.

You would no longer require to file any documents with Companies House after your dormant company has been dissolved. No more company accounts or confirmation statements.

Once your company is voluntarily dissolved, you may not restore your company through administrative restoration after this. You must restore your company through the court process and this can be an expensive and time-consuming process.

Consider carefully how important is it your company name to you. Anyone can take over your company name by registering it with Companies House as a new company after you dissolved it. This includes your future competitors.

If you have any questions about your dormant company, contact Companies House or speak with our accountants.

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