SIC code on VAT registration cert.

[minghis]

One of those - 'should I be worried' questions...

I've just had my VAT Certificate of Registration arrive and under the trade classification it states 88910 which is not the same one we used when we set the business up which is 88100.

The two are both relating to care (which is what we do) but what concerns me is the VAT one is a specific code for child day care and we are definitely not dealing with children, we are adults only. So my question is, should I be concerned, should I get it changed or is it not really a problem and just leave as is?

As ever, thoughts appreciated!

 

[Spur Support Services]

It isn't an error which will result in any fines or penalties. However, you may want to send a letter to the tax office to update the coding, to tidy it up.

The trade classification will effect HMRC's AI risk profiling of your business activities. There may therefore a slightly increased risk of you receiving queries from HMRC, because they are comparing you data with Child Care providers, which may move your data into an "outlier" position.

Similarly, if you are running your business through a limited company, it may also be worth checking your SIC code on the Companies House website.
I would also ensure that you asked for a note to added to your next self assessment or corporation tax return to ensure the business tax teams adjust the trade classification.