SIC codes

SIC codes

Didn't find your answer?

Any experts in navigating the SIC codes out there?  I need to VAT register a personal training (provides one on one and group fitness training).  I am struggling to pick the correct code.  He will be on flat rate, so need to ensure it picks up the correct VAT flat rate.

Is it considered an education service? A recreational activity? 

If anyone has done this for a fitness client, please share (I am losing the will to live...)

Thanks in advance!

EDIT - at the moment it is listed with Companies House as 93199 - Other Sports activities (but none of the sub codes are appropriate for the VAT reg) - so likely will need amending at CH.

Replies (7)

Please login or register to join the discussion.

avatar
By Roland195
19th Nov 2015 14:21

Doesn't really matter

I have had similar issues in the past with the trade that appears on the registration certificate bearing little relation to the actual trade however it doesn't seem to have consequence - the VAT trade sector can be manually overridden to the appropriate one.

I had been concerned this would increase the client's risk profile for enquiry but no problems yet.

 

 

Thanks (1)
avatar
By lja20
19th Nov 2015 18:20

I think I am going with 85510 which comes up as sport and recreation and creates a flat rate of 12% (other business services not listed elsewhere) - which is not unreasonable.

Slightly bizarre that it didn't come up with the 8.5% flat rate (Sport and Recreation)?

So there a million SIC codes and 50 odd Flat rate categories....

I would be interested to know if there are any other flat rate VAT registered personal trainers out there? and what rate they use?

 

Thanks (0)
avatar
By Joe Soap
19th Nov 2015 18:29

SIC codes

Does any body spend much time worrying about these? They mostly seem to relate to a bygone age.

Has anyone ever had some official challenge the SIC code that they have used?

Thanks (0)
avatar
By lja20
19th Nov 2015 18:34

more of the link to Flat Rate

I agree Joe, largely irrelevant (unless you are buying access to a business database), I was more interested in the linkage with the flat rate - the last few flat rate registrations I have done, the Flat Rate % seems to be spat out of the system (and therefore must be linked to SIC).

So in that case, it must have some relevance?

Thanks (0)
avatar
By Matrix
19th Nov 2015 22:48

He must achieve amazing results if he has reached the VAT threshold or have very rich clients who can pay his high rates and VAT.  The only PT I came across couldn't afford an accountant.

Thanks (0)
avatar
By Roland195
20th Nov 2015 09:40

VAT registered

I would also suggest a VAT registered P/T must be exceptionally successful. Is the income largely produced from P/T group training sessions or from a pyramid scheme selling supplements?  

Thanks (0)
avatar
By lja20
20th Nov 2015 12:19

group training

Yes, he is doing well, primarily due to group training session (pile them in approach) no pyramid selling schemes involved.

Moving over to VAT was a difficult decision, business on current monthly turnover is heading towards VAT registration and took the commercial decision to go VAT registered on 1 Jan - Jan  always a productive sign up month!.  So is registering in advance, most clients have accepted it without query only a couple of grumblings.

As regards SIC code - if interested, I have settled on 96040 - Physical well being.  

 

Thanks (0)