People with Significant Control & Confirmation Statement.
From 6th April 2016, all UK companies, including Limited Liability Partnerships (LLP) and Societas Europaea (SE), have to keep a record in their Company Register, of people who own or control their company.
PSC are those within or connected to the company who:
Own more than 25% of the company’s shares
Hold more than 25% of the company’s voting rights
Hold the right to appoint or remove the majority of directors
Have the right to, or actually has, significant influence or control
Hold the right to exercise or actually exercises significant control over a trust or company that meets one of the first 4 conditions
IMPORTANT: IT IS A CRIMINAL OFFENCE TO NOT PROVIDE THIS INFORMATION.
How does this affect you?
Companies incorporated after 30 June 2016, must file PSC information as part of the incorporation process.
The information will be confirmed or can be updated when you submit your Confirmation Statement (the replacement for the Annual Return)
The PSC feature will be included in our online registration system.
For companies incorporated prior to 30 June 2016, you will need to prepare a PSC register now and include it in your Company Register.
You will submit the information to Companies House when you file your first Confirmation Statement.
Further information can be found at (Guidance to the people with significant control requirements)
From the end of June 2016 the Annual Return is being replaced with the Confirmation Statement.
The Confirmation Statement is intended to serve roughly the same purpose as the Annual Return.
This allows companies to provide up-to-date information for inclusion on the public register.
However, the main difference is that you will ’check and confirm’ the data held.
The other notable difference is that in your first Confirmation Statement, you will have to include the information about your People with Significant Control (PSC).
What is included in the Confirmation Statement?
To complete your Confirmation Statement, you just need to check the information Companies House hold, is correct and up to date. If you need to change shareholder information, change the SIC code, or amend the statement of capital, you can do so.
For other changes, such as a new Registered Office, you will need to complete a separate form and submit it at the same time.
When to file your Confirmation Statement?
From 30 June, you will need to file the Confirmation Statement on the date your Annual Return is due.