Changes to PSC

On 26 June 2017, changes were made to the way the Register of People with Significant Control (PSC) is updated. The PSC was introduced in 2016 as part of the UK’s anti-money laundering measures and this latest change will increase the transparency of who owns and controls companies in the UK.

From 26 June 2017, the PSC will not be updated on the Confirmation Statement, as was previously the case. Instead, companies and other entities will be required to report changes as they occur. Companies House has said that entities will have 14 days to update their PSC and another 14 days to notify Companies House of the change, by the completion and submission of a new set of forms, PSC01 to PSC09.

For more details of these changes, please do not hesitate to contact us.

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Philip Handley FCA

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