Complete the form PSC07 to notify Companies House if you want to stop to be the person with significant control (PSC) for your limited company registered in the United Kingdom.
How to submit PSC07
For this purpose, you may submit your form online or on a printed paper. You would require your company’s authentication code if you are to submit your form online. For paper filing, please download the form from companies house website, print it on a white A4 size paper only and preferably single-sided and get the company’s director or company secretary, if any, to sign it before submitting it to Companies House.
When to submit PSC07
Common situations where you have to submit the form PSC07 to Companies House are:
You just bought a ready-made company. Usually, you would have to submit the PSC07 to remove the exiting PSC that comes with the ready-made company. At the same time, you would also notify Companies House of your new person with significant control using the form PSC01.
Existing PSC stop to be the person with significant control
You are the existing person with significant control for your limited company. Subsequently, you transferred your entire company to a family member of yours. And, you hand over full control of the company at the same time.
In this situation, you would use the form PSC07 to notify Companies House that you had ceased to be the person with significant control. Concurrently, the other person submit the form PSC01 to give details of himself/herself.
The confirmation statement
Companies House requires every limited company to confirm all your company’s details registered with Companies House are still valid, once every 12 months by submitting your confirmation statement. You have the opportunity to make sure the details of the person with significant control (PSC) registered with Companies House is correct and update your company’s details accordingly then submit your Confirmation Statement.