
Keeping a register of people with significant control
From 6th April most companies and limited liability partnerships need to keep a register of people with significant control (PSC). From 30th June 2016, they need to file this information at Companies House as part of the new ‘confirmation statement’ which replaces the annual return.
The PSC register identifies the ultimate beneficial owners and controllers of the organisation and provides details of their holdings. This information will be made public via Companies House as part of the government’s efforts to improve company transparency, reduce tax evasion and curb crime. It is one of a number of measures contained in the Small Business Enterprise and Employment Act 2015.
A PSC is anyone in a company or limited liability partnership (LLP) who meets one or more of the following conditions:
The following details about the PSC will be held on the PSC Register:
Any companies or LLPs that incorporate after 30 June 2016 will have to include a statement of initial significant control in their application to Companies House.
If you use our company secretarial service, we will compile and file the PSC Register with your confirmation statement.
Companies that don’t outsource their company secretarial work must maintain their own PSC Register and file it with their confirmation statement via the Companies House website. They will release more information on how to do this nearer the time.
For help and advice on your company’s PSC Register, please contact Jackie Broadfoot