A limited company registered in the United Kingdom is to disclose the PERSON with SIGNIFICANT CONTROL (PSC) behind the company with Companies House.
Who is Person with Significant Control?
The PSC is anyone in your company who meets one or more of the conditions according to Companies Act 2006. 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 names would be published on the Companies House website.
Where a nominee shareholder or a nominee director is present in your limited company for whatever reasons, your PSC in the case would be the person your nominee is representing in your company.
How to inform Companies House
You are required to register your PSC particulars with Companies House using the Companies House forms.
- PSC01 if your PSC is an individual.
- PSC02 if your PSC is an entity
- PSC03 for other registerable PSC
You must notify Companies House of your PSC details before you submit your confirmation statement.