Persons with Significant Control & Companies House
Since 26 June 2017 there has been a real time requirement to file a company’s Persons with Significant Control (”PSC”) information with Companies House, by filing forms PSC01 to PSC09, as applicable.
Upon completing your PSC investigations, or recording any changes to an existing PSC, a company has 14 days to update their PSC register and a further 14 days to file the necessary PSC forms with Companies House.
The PSC legislation has been in place since 6 April 2016. Companies House are now pursuing companies that have not completed their investigations and subsequently continue to have the following status on their PSC register:
‘The company has not yet completed taking reasonable steps to find out if there is anyone who is a registrable person or a registrable relevant legal entity in relation to the company’.
Companies House are now issuing a PSC Statement Pursuit letter to each such company asking for the company to update their PSC register and file the necessary forms within a 28 day deadline.
It is important to note, a PSC Register must never be blank and it is a criminal offence not to keep this information up to date on both your PSC register and with Companies House.
For further information on PSCs please contact the company secretarial team at: firstname.lastname@example.org or call 0345 070 6000.