The beneficial ownership register (formally known as the register of people with significant control, or PSC register) is a record that every UK company must maintain. It identifies the individuals who ultimately own or control the company. The register was introduced on 6 April 2016 under the Small Business, Enterprise and Employment Act 2015 and is a key part of the UK’s corporate transparency framework.
For a detailed guide on who qualifies as a PSC, see People with Significant Control.
Who Must Keep a PSC Register
All UK registered companies (private and public), LLPs and unregistered companies must maintain a PSC register. Listed companies on a regulated market are exempt because they are subject to separate disclosure requirements under the Disclosure Guidance and Transparency Rules (DTR 5).
Who is a Person with Significant Control
A PSC is an individual who meets one or more of the following conditions:
| Condition | Threshold |
|---|---|
| Shareholding | Holds directly or indirectly more than 25% of the company’s shares |
| Voting rights | Holds directly or indirectly more than 25% of the company’s voting rights |
| Appointment rights | Has the right to appoint or remove a majority of the company’s directors |
| Significant influence or control | Exercises or has the right to exercise significant influence or control over the company |
| Trust or firm control | Has the right to exercise significant influence or control over a trust or firm that itself satisfies any of the above conditions |
Relevant Legal Entities (RLEs)
If the significant control is held through a corporate body (rather than an individual), the company must determine whether that entity is a relevant legal entity (RLE). An RLE is a legal entity that:
- Is subject to its own PSC disclosure requirements (e.g. another UK registered company)
- Is listed on a regulated market, or on certain specified markets
If the intermediary entity is an RLE, it is recorded in the PSC register in place of the individuals behind it. If it is not an RLE, the company must look through the entity to find the individual PSCs.
Information Recorded in the Register
The PSC register must contain the following details for each PSC:
| Field | Detail |
|---|---|
| Name | Full name of the individual |
| Date of birth | Month and year shown on the public register (full date held by the company) |
| Nationality | Current nationality |
| Country of residence | Country where the PSC usually lives |
| Service address | An address for correspondence (can be “The company’s registered office”) |
| Residential address | Kept by the company but not shown on the public register |
| Nature of control | Which of the five conditions are met and the extent (e.g. “holds 25% to 50% of shares”) |
| Date control began | When the individual became a PSC |
Percentage Bands
Shareholding and voting rights are recorded in bands, not exact percentages:
| Band | Meaning |
|---|---|
| Over 25% up to 50% | Significant but not majority control |
| Over 50% up to 75% | Majority control |
| Over 75% | Dominant control (can pass special resolutions alone) |
Filing with Companies House
Confirmation Statement
PSC information must be confirmed (or updated) each year as part of the confirmation statement. The confirmation statement asks the company to verify that the PSC register is accurate and up to date.
Notifying Changes
When there is a change to the PSC register (a new PSC, a PSC ceasing to qualify, or a change to a PSC’s details), the company must:
- Update the PSC register within 14 days of becoming aware of the change
- Notify Companies House within a further 14 days (28 days total from the change)
The notification is made using form PSC01 (new PSC), PSC02 (new RLE), PSC04 (change of details) or PSC07 (cessation).
Company’s Duty to Investigate
The company has a proactive duty to identify its PSCs. It must:
- Send a section 790D notice to anyone it knows or has reasonable cause to believe is a PSC
- The recipient must respond within 1 month
- If a person fails to respond or provides false information, the company can impose restrictions on their shares (preventing transfer, dividend payments and voting)
Companies House Reform
Economic Crime and Corporate Transparency Act 2023
The Economic Crime and Corporate Transparency Act 2023 (ECCTA) introduced significant changes to the PSC regime:
| Change | Effect |
|---|---|
| Identity verification | Directors and PSCs must verify their identity with Companies House |
| Registered email address | Companies must provide a registered email address to Companies House |
| Enhanced powers for Companies House | The Registrar gains new powers to query, remove or annotate information on the register |
| Stronger penalties | Increased penalties for failing to comply with PSC requirements |
| Suppression of information | Tightened rules on when personal information can be suppressed from the public register |
The changes are commenced in stages. Identity verification has been required since 18 November 2025: new directors and PSCs verify before or on appointment, and existing directors and PSCs verify by the company’s first confirmation statement after that date.
Penalties for Non-Compliance
Failing to maintain the PSC register or file accurate information with Companies House is a criminal offence. Penalties include:
| Offence | Penalty |
|---|---|
| Failure to keep a PSC register | Fine (unlimited on conviction on indictment) |
| Failure to file PSC information | Fine and/or up to 2 years’ imprisonment |
| Providing false information | Fine and/or up to 2 years’ imprisonment |
| Failure to respond to s.790D notice | Share restrictions (no voting, no dividends, no transfers) |
Practical Steps for Companies
- Identify all PSCs by reviewing the shareholding, voting rights and board appointment rights
- Issue s.790D notices to anyone reasonably believed to be a PSC
- Set up and maintain the PSC register (can be kept at the registered office or on the central register at Companies House)
- File PSC information with Companies House on incorporation and update within 14 days of any change
- Confirm the register as part of the annual confirmation statement
- Make sure every PSC has verified their identity with Companies House and that their personal code is recorded