PSC07 Stop to be the Person with Significant Control

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:

Ready-made company

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.

Statement of capital

Statement of capital is a summary of a limited company’s share capital. The statement includes:

  • The total number of shares of the company
  • The aggregate nominal value of the shares

If the company has more than one class of shares, the details of each class of share must be provided in the following manner:

  • Prescribed particulars of the rights attached to the shares
  • Total number of share for each class of share
  • The aggregate nominal value of for each class of share
  • The amount paid up and unpaid on each class of share

You will complete your statement of capital when you first incorporating your company. Subsequent shares allotment must also be registered with Companies House.

Share capital forms

Use the share capital forms to notify Companies House of any changes to your company’s share capital. The form reference and purpose are listed below for your reference.

Form referencePurpose
SH01 Allotment of shares
SH02
Notice of consolidation, sub division of shares or re-conversionof stock into shares or redemption of redeemable shares
SH03Notify a purchase of own shares
SH04Notify a sale or transfer of treasury shares
SH05Notify a cancellation of treasury shares
SH06
Notify a cancellation of shares
SH07Notify a cancellation of shares: public company
SH08Notify a name or other designation of class of shares
SH09Allotting a new class of shares by an unlimited company
SH10Give notice of particulars of variation of rights attached to shares
SH11Give notice of a new class of members
SH12Give notice of particulars of variation of class rights
SH13Give notice of name or other designation of class of members
SH14 Redenomination of shares
SH15 Reduction of capital as a result of the redenomination
SH16Give notice of application to court to cancel special resolution
SH17Give notice by the company of application to cancel special resolution
SH19Statement of capital when reducing capital in a company
SH19Statement of capital when re-registering from unlimited to limited
SH50Apply for trading certificate for a public company
980(1)Notice of takeover offer to non-assenting shareholders
980decGive notice of declaration to non-assenting shareholders
984Give notice of a takeover to non-assenting shareholders

The confirmation statement

Ensure your share capital information is accurately presented in your Confirmation statement before filing it with Companies House.

How to file share forms and confirmation statement

You may file your share capital forms and confirmation statement with Companies House using the web filing service or on a printed paper form by post. You would require your company’s authentication code if you are to submit your forms online.

New Companies House forms after Brexit

Some Companies House forms will change after Brexit. There would not be a problem for you if you file online yourself. However, if you are going to do a paper filing ensure you download the correct Companies House form.

File online

Companies House is well prepared for Brexit. They anticipate and prepare for in the event of Brexit no deal and had issue guidance in advance of the changes may affect UK Companies after Brexit.

For this purpose, Companies House would update their web filing system with the latest necessary changes to ease the transition. To file online, you would require your authentication code.

New Companies House forms for corporate officers

In the event of UK leaves EU with no deal the following Companies House forms would change. The changes on these forms are subject to approval by Parliament.

The draft legislation is called The Companies, Limited Liability Partnerships and Partnerships (Amendments etc) EU Exit Regulations 2019.

The new Companies House forms would take effect on the exit day.

Form referenceCompanies House Form name
IN01Company incorporation
LLIN01Limited liability partnership incorporation
AP02Corporate director appointment
LLAP02Corporate LLP member appointment
AP04Corporate secretary appointment
CH02change of corporate director details
LLCH02change of corporate LLP member details
CH04change of corporate secretary details

Confirmation statement

Companies House states there will be minor changes to references in sections C1 and C3 of the confirmation statement CS01 form which refer to regulated markets outside the UK.

If you have any questions, do not hesitate to contact Companies House or our accountants. We would be happy to help you.