From 6 April 2016, UK limited companies and limited liability
partnerships (LLPs) have been required to maintain a Persons with
Significant Control Register (PSC Register) to identify and record
those Persons with Significant Control (each a PSC) namely the
people who own and control the company or LLP. The UK government
proposed this in order to increase transparency over who owns and
controls UK companies and is confident that this will help inform
investors when they are considering investing in a company.
Details of each company's PSC Register must be submitted to
Companies House on an annual basis as part of the company's
Annual Confirmation Statement, which, as of 30 June 2016, replaced
the Annual Return. The company (or LLP) is responsible for
monitoring and updating the information on its PSC Register but
will continue to maintain existing registers such as the register
of directors and register of members.
