Register of People with Significant Control

Under the Companies Act 2006, as amended by the Small Business Enterprise & Employment Act 2015, most UK companies (& LLPs) are required to identify and record the people with significant control over them (PSCs). This includes those who own or control (directly or indirectly) more than 25% of the entity. Companies (& LLPs) are required to file this information with Companies House.

Companies must:

Keep a PSC register;
Take reasonable steps to identify those who should be registered on the PSC register;
Record the PSC’s details and keep the register up to date;
Make the register available for public inspection; and
Provide all this information to Companies House.

Even if a company has no interests to be registered (or is dormant), it must still keep a register and the register cannot be blank. Criminal sanctions apply for non-compliance.

This group of templates aims to guide companies, their directors, secretaries and administrators through the process of identifying, collecting, keeping and updating information about PSCs. Included within this group are subfolders covering:

Guidance on the regime;
Template statutory notices;
Template letters from PSCs and pro-forma replies;
Template statutory registers;
Template notifications to Companies House (and ancillary documents); and
Templates specifically related to LLPs.

Companies should consider seeking independent legal advice if they are not familiar with the requirements or the consequences of the PSC legislation.

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