Important changes for all incorporated companies.

From 6^th April 2016:

You need to start keeping a record of the people who control your company. There are criminal penalties if you don’t do this.

For most companies these will be individuals who:

• Hold more than 25% of the company’s shares
• Hold more than 25% of the company’s voting rights
• Have the right to appoint or remove the majority of directors.

If an individual does not meet the above conditions, check to see if you have anyone who:

• Has the right to, or actually exercises, significant influence or control over a trust or company that meets the above conditions.

There is more information on how to identify your PSCs at www.gov.uk/companieshouse

 

From 30^th June 2016:

You need to provide Companies House with the details of your PSCs. In most cases, you can do this as part of your first confirmation statement.

Your record cannot be blank. If you have no PSCs, or you’re still trying to confirm who they are, there will be forms to confirm this.

For more information visit: www.companieshouse.gov.uk/PSC