Companies House and the right SIC code for sourcers
Short answer: If you're trading as a limited company, you register with Companies House first and the detail most sourcers get wrong is the SIC code.
Property sourcing and deal packaging should be registered under SIC 68310 — "Real estate agencies."
What is Companies House registration?
Companies House is the UK's registrar of companies. If you operate as a limited company you incorporate here, and part of that is choosing a SIC code, the standard code that describes what your business does.
Do you need it as a sourcer?
Only if you're trading as a limited company. Sole traders don't register with Companies House, but they still need everything else (ICO, AML, redress, insurance). If you are a limited company, getting the SIC code right at incorporation saves problems later.
Why SIC 68310 matters
HMRC and your AML supervision expect your Companies House record to reflect estate-agency activity. A vague or wrong code (like a generic "other business support") can create inconsistencies that complicate your AML registration.
Banks and insurers look at your SIC code to understand what you do, the wrong one can slow down or complicate applications.
It signals to partners and clients that you're set up properly.
What it costs
It currently does not cost anything to set up directly with Companies House. If you use a solicitor to set up any business for you, there may be third party costs.
Common mistakes
We have spoken to thousands of agents, and there are common issues and mistakes we see time and time again - including:
Choosing a generic or unrelated SIC code at incorporation.
Not updating an existing company's SIC code to 68310 when moving into sourcing.
Assuming the code doesn't matter — it's one of the quiet ones that surfaces later, during AML registration or a bank application.
Setting up their company before they have started training, set up documents, or got the cash together to complete required registrations
Get it right
Getting incorporated correctly is step one of setting up properly. Our free setup guide and the 10 Steps to Setting Up course walk you through it in the right order.
Want the full route done properly? The Complete Sourcing Programme covers setup, training, documents and a year of membership. Already compliant and want the credibility? NAPSA membership may be all you need.
