Help with Nace code for IT ltd. company

C

churrusco

Registered User
Messages
23
Hi there,

I know this is a question for my accounant or the companies formation agency but just wondering whether any of the forum participants has already gone through this.

I received all the forms for registering my company from my accountant and on the activities the company figures as registered for "IT Consultancy" under Nace code 72.60 ([broken link removed]).

The main reason why I create a company is to exercise as IT Contractor. However, I regularly develop open source software that eventually would like to promote or even commercialize services and development around this hiring additional people.

So, just wondering if that "IT Consultant" description under "other computer related activities" is too much restrictive for what I plan.

Thanks very much.
 
Definitely will do. Just as I wrote in the first line of my message, was just wondering whether I could know it beforehand.

Thanks anyways.
 
Definitely will do. Just as I wrote in the first line of my message, was just wondering whether I could know it beforehand.

Thanks anyways.
 
The NACE code is simply for statistical records to show how many companies of a certain type are involved in certain activities. The choice you mentioned would be fine. Be more careful with the principal objects clause at the start of your Memorandum of Association, and make sure it covers all the activities you want to carry out. Most principal objects clauses are now cut down to a few lines so they tend to be very broad and general. All of this will be phased out over the next few years anyway with more standardised company documentation anticipated.
 
Thanks for the advice oopsbuddy,

Yes, memorandum activities were quite broad and generic. Being so generic, does anyone know whether the NACE activity is enforced? For example, would it be legal to sell furniture? Common sense says no.
 
As I said, the NACE code is only for statistical records and has no bearing on what the company can do. Ultra vires rules will only relate to the Memorandum of Assocn. Don't worry about the NACE code after incorporation. If you want to sell furniture too (as an example) the Mem of Assocn will probably be broad enough to allow the company to do most things it wants, including that, but for now, don't worry about it. Good luck
 
You must log in or register to reply here.
Back
Top