All companies must keep a register of people with significant control (PSC) from April this year and inform us of who they are in June. In this blog we’ll explain how to identify your PSCs and when and how you inform us.
When you need to inform us of your PSCs
From 6 April you'll need to start keeping details of your company’s PSCs on a register (the details we require are explained below). From 30 June you'll send this information with your confirmation statement to us at Companies House.
Who are your PSCs?
For most companies these will be 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 further, less common, options. These are:
- any individuals who have the right to exercise or actually exercise significant influence or control are PSCs
- 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
For most companies the first three rules above will allow you to identify your PSCs. You can find more info on how to identify your PSCs on our site.
What details do you need to include in your PSC register?
You’ll need to include the following information (and confirm these details with your PSCs before you add them): name, date of birth, nationality, residential address and service address. You’ll also need to include the date when they became a PSC and which of the statements above applies to them (eg they hold more than 25% of your company’s shares).
Remember, people may ask to see your PSC register. People are entitled to see your register but you must make sure you don’t share the residential addresses of your PSCs. When you give this information to us at Companies House in June we won’t make the residential addresses public either.
What if I can’t contact my PSCs by April or don’t have any PSCs?
Your PSC register cannot be blank. If you have no PSCs – or are waiting to confirm the details – you must state this on both your register and ours. Our online service will help provide the right wording for you to use. You should update your PSC information as soon as you have the correct details.
Will the details about my PSCs be public?
Yes. We will make your PSC information public on our beta service. The only details we will not make available are the residential addresses and the day of birth for each PSC (we will only display the month and year of birth).
Protection for people at risk
Where an individual can show that they are at risk of intimidation or violence because of their connection with a certain company, they can apply to have their full details suppressed. In these cases the PSC register will include a statement that a PSC exists but their details are not available.
If you believe any of your PSCs need protection you should contact them immediately. They'll need to make an application for protection, which will be assessed. An individual will only be granted protection if they're able to show that there is a real risk of violence or intimidation (eg their company is the target of activists).