What is a Person with Significant Control (PSC)?

The PSC regime makes the real owners of companies transparent. A Person with Significant Control is broadly anyone who meets one or more of these tests:

• holds more than 25% of the shares;
• holds more than 25% of the voting rights;
• has the right to appoint or remove a majority of the directors; or
• otherwise exercises significant influence or control over the company.

What you must do

Every company must keep a PSC register and file its PSC information at Companies House, keeping it current — PSC changes are notified as they happen, not just at the confirmation statement. Under the ECCTA reforms, PSCs are also within scope of the new identity-verification requirements.