PSC Registers for companies and LLPs
Posted on 12th April 2016 at 18:40
As from 6th April 2016, all UK companies and LLPs will need to keep a register of people with significant control (PSC) over their company, and then provide this information to Companies House as part of the Annual Confirmation Statement (formerly known as the Annual Return).
The Annual Confirmation will replace the Annual Return after 30th June 2016.
The PSC register must be kept at the registered office of the company. The register will hold details of the names, dates of birth, nationality, residential and service addresses of all the PSCs.
Who are the PSCs of companies and LLPs?
Broadly PSCs are people who:
Hold more than 25% of a company’s shares.
Hold more than 25% of a company’s voting rights.
Have the right to appoint or remove the majority of directors.
There are two less common options for someone to be a PSC:
Any individuals who have the right to exercise or actually exercise significant influence or control
Where a trust or a firm meets one of the three statements above, any individuals with significant control or influence over that trust or firm are PSCs
Questions or queries?
Please do let us know if you have any questions or if you need any further help understanding the guidance – please call us on 01932 564098 or message us here.
Information correct at time of publication
This note is written for the general interest of our clients and is not a substitute for consulting the relevant legislation or for taking professional advice.
Tagged as: Companies House
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