05 December
By Victoria Wainwright
Categories: Industry News

Changes To Your PSC Register? Act Immediately!

From 8th November 2017, the Persons with Significant Control (PSC) requirements for Companies House have tightened even further.

There is now a 14 day period within which a company must update its PSC register following a change and a further 14 days to give notice to Companies House of the change.

These changes mean that it is now really important that you are aware of the Persons of Significant Control in your company.

A Person with Significant Control is someone who:

  • Holds more than 25% of the shares of the company, and /or.
  • Has significant influence or control over the company or the activities of a trust or firm which meets any of the other specified conditions, and/or.
  • Has the right to appoint or remove the majority of the board of directors, and/or.
  • Holds more than 25% of the voting rights of the company.

These individuals must be specifically identified at Companies House and must be checked as part of your annual Confirmation Statement.

What you need to do:

If we look after your Company Secretarial requirements, we ask that you notify us straight away if there are any changes to the PSCs of your company. This will allow us to ensure you comply with these rules.

If you look after your own Company Secretarial declarations, we suggest that you make yourself aware of the most recent declaration and ensure you update any changes at Companies House.

Our company secretarial team is here to help and should you wish us to take care of the annual company secretarial needs of your company, please do not hesitate to contact us.

Find our more about our company secretarial service here.