PSC register comes into force

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06 Apr, 2016

The Register of People with Significant Control Regulations 2016 and The Limited Liability Partnerships (Register of People with Significant Control) Regulations 2016 come into force today.

UK companies (except listed companies) and Limited Liability Partnerships (LLPs) will be required to keep a Person with Significant Control (PSC) register of people with significant control over the company.  A person with significant control is someone who own or controls more than 25 per cent of a company’s shares or voting rights or who otherwise exercises control over a company or its management. 

Such companies and LLPs will need to hold their own PSC register from 6 April 2016 and from 30 June 2016 they will need to give this information to Companies House when they deliver their confirmation statement (which replaces the annual return).

The PSC register will need to include details on the individuals who own or control companies including name, month and year of birth, nationality and details of their interest in the company. 

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