A PSC, or Person with Significant Control, is an individual or entity that ultimately owns or controls a company. UK law requires all limited companies and LLPs to identify and record their PSCs in the official register, which is also submitted to Companies House. This measure ensures transparency, prevents hidden ownership, and helps combat financial crime.
A person is usually classed as a PSC if they meet one or more of the following conditions: they hold more than 25% of the company’s shares, they control more than 25% of the voting rights, they have the power to appoint or remove a majority of directors, or they exercise significant influence or control over the company. In some cases, a trust or firm can also be a PSC.
Companies are legally obliged to keep their PSC information accurate and up to date. This often forms part of the Confirmation Statement Filing process, where company details are reviewed and confirmed with Companies House each year. Failure to comply can lead to penalties and even criminal charges for directors.
Need help filing your Confirmation Statement or updating company details? Visit fileconfirmationstatement.io for expert guidance, templates, and reliable support from professionals.
In short, a PSC provides visibility into who truly controls a company, protecting both business integrity and the wider economy.
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