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 PSC Checklist provides a broad overview of the key questions that companies need to consider when implementing the regime. The checklist aims to provide an overview of the regime in one place, with the action that needs to be taken as well as the most appropriate Simply-Docs template to use to implement the regime.
This checklist 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.
This checklist is designed to complement the Government’s guidance on the regime. 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. This template has been drafted with a focus on the issues relevant to companies rather than LLPs.
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