Person with Significant Control – PSC

Person with Significant Control – PSC

The UK company law requires every limited company to disclose the PERSON with SIGNIFICANT CONTROL (PSC) behind your company with Companies House.

The PSC is anyone in your company who meets one or more of the conditions listed in the legislation. He/she is someone who:

1) Owns more than 25% of the company’s shares
2) Holds more than 25% of the company’s voting rights
3) Holds the right to appoint or remove the majority of directors
4) Has the right to, or actually exercises significant influence or control
5) Holds the right to exercise or actually exercises significant control over a trust or company that meets one of the first four conditions

The PSC’s names would be published in Companies House website. Where a nominee shareholder or a nominee director is used for your limited company for whatever reasons, the PSC in the case would be the person the nominee is representing in your limited company.

The PSC’s particulars are required to be registered with Companies House using the relevant Companies House forms. Also, your PSC details are to be included when filing your Confirmation statement with Companies House.

Beside filing your confirmation statement, your company must also submit company accounts with Companies House at the end of each accounting year end.

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