Guidance Note - Register of PSCs
From 6th April 2016, UK incorporated companies, UK LLPs and UK Societates Europaeae must collect and keep information about people with significant control over them in a register – "Register of People with Significant Control".
This guidance note provides a broad overview of the key points of the regime for directors and secretaries of SME companies (and designated members of LLPs), including how to get a PSC register up and running and considering and implementing the legislation governing PSC registers.
This guidance has been updated as of 26th June 2017 to incorporate the changes introduced by the Information about People with Significant Control (Amendment) Regulations 2017. These Regulations have, amongst other things, extended the scope of the PSC regime and tightened up the procedure and timescales for updating the PSC register and reporting these changes to Companies House.
These notes are designed to complement rather than replace the Government’s guidance. The Government’s guidance is freely available at www.gov.uk and is extremely comprehensive. Companies (& LLPs) with complex structures may also need to consider seeking independent legal advice.
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