Companies in the UK are now legally required to inform Companies House of all individuals within a company which have significant control over the company. This is done by including those individuals on the PSC Register (Person’s with Significant Control Register) This is a public register which is available on Companies House.
So who is a Person with Significant Control
- A person who owns more than 25% shares
- A person who has more than 25% voting power
- A person who exercises significant influence over the company
- A person who has the power to appoint or remove the directors of a company
Often, the people with significant control are the shareholders and directors, however, should any other individual fall into any of the above categories, you legally need to make this information available to Companies House by updating your PSC register.
What information is needed to update the PSC register?
- The person’s name, date of birth and nationality;
- The person’s service address;
- Their usual residential address
- The date he or she became a PSC in relation to the company
- Which conditions for being a PSC are met
Will this information be publicly available?
Yes, all this information will be publicly available except the residential address of the PSC
We gather the required information to update your Company PSC
We will submit the changes to Companies House
We will update you when its been accepted
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