People with Significant Control

Posted by Martin Kay on
Companies, Limited Liability Partnerships (LLP) and Societas Europea (SE) are now required to maintain a Register of People with Significant Control (PSC Register) – one of a series of changes introduced by the Small Business, Enterprise and Employment Act 2015.


The PSC Register is a new statutory register that needs to be maintained in addition to your existing statutory registers.  

All UK companies formed under the Companies Act 2006, LLPs and SEs must keep a PSC Register.  Exceptions apply to publicly quoted companies.

People with significant control (PSC) include beneficial owners and those who exercise significant control of a company.

For an individual to be considered a PSC, he/she must meet one of the following five conditions:




An individual who, directly or indirectly, owns more than 25% of shares in the company


An individual who, directly or indirectly, holds more than 25% of voting rights in the company


An individual who, directly or indirectly, holds the right to appoint or remove a majority of the board directors of the company


An individual who has the right to exercise, or actually exercises, significant influence or control over the company


Where a trust or firm would satisfy one of the first four conditions if it were an individual, any individual holding the right to exercise, or actually exercises, significant influence or control over that trust or firm

A company can have more than one PSC; the PSC Register must name all of them.

Details relating to PSCs which should be listed on the PSC Register include: D.O.B, nationality, country of residence, service address, the date on which the individual became a PSC and which of the conditions for classification as a PSC are met.   


  • Identify the PSCs over the company and confirm their information;
  • Record the details of the PSC on the company's PSC Register;
  • Provide this information to Companies House as part of the Confirmation Statement (formerly the Annual Return) and on incorporation from 30 June 2016; and
  • Update the information:
    • on the company's PSC Register when it changes; and
    • at Companies House when you make your next Confirmation Statement.


  • The company must take reasonable steps to identify its PSCs.
  • Failure to maintain a PSC Register is a criminal offence.
  • Failure to disclose that you are a PSC is also a criminal offence.

For most companies the person of significant control will be fairly straightforward to ascertain but for companies with a more complex shareholding structure, a more detailed review of the legislation and guidance will be required. We have put together some more details on this subject, click here to view our series of articles( 1, 23).


The Blake Morgan Corporate Teams are fully conversant with this new legislation and are able to assist with the process of setting up and maintaining legally compliant PSC Registers.


About the Author

Martin heads the Corporate team in London and advises corporate clients and not-for-profit and public bodies, including universities, on a range of corporate and commercial issues.

Martin Kay
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