The People with Significant Control (PSC) register is a record that every UK company must maintain, identifying the individuals who ultimately own or control the company. The PSC regime was introduced on 6 April 2016 under the Small Business, Enterprise and Employment Act 2015 to increase transparency about who really controls UK companies. For a broader overview of PSC requirements and recent legislative changes, see the beneficial ownership register guide.
Who is a Person with Significant Control?
An individual is a PSC if they meet one or more of the following conditions in relation to the company:
| Condition | Description |
|---|---|
| 1. Shares | Holds, directly or indirectly, more than 25% of the company’s shares |
| 2. Voting rights | Holds, directly or indirectly, more than 25% of the company’s voting rights |
| 3. Appointment rights | Has the right to appoint or remove a majority of the board of directors |
| 4. Significant influence or control | Has the right to exercise, or actually exercises, significant influence or control over the company |
| 5. Trust or firm | Has the right to exercise, or actually exercises, significant influence or control over a trust or firm that meets any of conditions 1–4 |
“Significant Influence or Control”
Conditions 4 and 5 are broader than simple share ownership. HMRC and Companies House guidance gives examples:
- A person who has the right to direct the company’s policies or activities
- A person whose consent is required for major decisions
- A person who influences the company’s direction through informal arrangements
- A person who controls a trust holding shares in the company
Which Companies Must Keep a PSC Register?
All UK companies must maintain a PSC register, including:
- Private limited companies
- Public companies not listed on a regulated market (listed companies are subject to different transparency rules)
- Limited liability partnerships (with modified PSC rules)
Companies with shares admitted to trading on a regulated market (such as the London Stock Exchange Main Market) are exempt because their ownership is disclosed through other mechanisms.
Maintaining the PSC Register
What the Register Must Contain
For each PSC, the register must record:
| Information | Detail |
|---|---|
| Name | Full name |
| Date of birth | Day, month and year |
| Nationality | |
| Country of residence | |
| Service address | Can differ from usual residential address |
| Usual residential address | Not publicly available on the Companies House register |
| Date became a PSC | When they first met the PSC conditions |
| Nature of control | Which of the five conditions they meet, and to what extent |
Levels of Ownership/Voting Rights
The register must specify the band of shareholding or voting rights:
| Band | Percentage |
|---|---|
| Over 25% up to 50% | First band |
| Over 50% up to 75% | Second band |
| Over 75% | Third band |
Identifying PSCs
The company has a duty to investigate who its PSCs are. The directors must take reasonable steps to identify all PSCs, including:
- Check the register of members for shareholders holding more than 25%
- Review shareholders’ agreements and voting arrangements
- Identify any trusts, nominees or corporate chains through which individuals exercise control
- Send PSC notices to suspected PSCs requiring them to confirm their status
PSC Notices
If the company knows or suspects that a person is a PSC, it can serve a formal notice under s.790D Companies Act 2006 requiring the person to:
- Confirm or deny their PSC status
- Provide the required particulars
Failure to respond to a PSC notice is a criminal offence punishable by a fine and/or up to 2 years’ imprisonment. The company can also apply restrictions on the person’s shares (preventing transfer, voting and dividend payments).
Filing with Companies House
PSC information must be filed with Companies House:
On Incorporation
The PSC details are included in the application for registration (form IN01).
Changes
Any changes to the PSC register must be notified to Companies House within 14 days of the company becoming aware of the change, using the appropriate form:
| Event | Form |
|---|---|
| New PSC | PSC01 (individual) or PSC02 (corporate entity) |
| Change to PSC details | PSC04 |
| PSC ceases | PSC07 (individual) or PSC08 (corporate entity) |
Confirmation Statement
The company must confirm its PSC register is up to date each time it files its confirmation statement.
Public Availability
PSC information is available on the Companies House public register and can be searched by anyone. However, the PSC’s usual residential address is protected and not shown publicly — only the service address is displayed.
Protection Regime
In exceptional circumstances, a PSC can apply to have their details suppressed from the public register if there is a serious risk of violence or intimidation. The application must demonstrate the risk, and Companies House decides whether to grant protection.
Relevant Legal Entities (RLEs)
If a company’s PSC is another corporate entity (not an individual), the PSC rules require the company to look through the corporate chain to find the individual who ultimately controls it. However, if the corporate entity is itself subject to PSC-equivalent disclosure (for example, it is a UK company with its own PSC register), it can be recorded as a Relevant Legal Entity (RLE) instead of tracing through to the individual.
Penalties for Non-Compliance
| Offence | Penalty |
|---|---|
| Company failing to keep a PSC register | Criminal offence; unlimited fine for the company and every officer in default |
| Company failing to investigate PSCs | Criminal offence; fine |
| PSC failing to respond to a notice | Criminal offence; fine and/or up to 2 years’ imprisonment |
| PSC providing false information | Criminal offence; fine and/or up to 2 years’ imprisonment |
| Failing to notify Companies House of changes | Criminal offence; fine |
Economic Crime and Corporate Transparency Act 2023
The Economic Crime and Corporate Transparency Act 2023 introduced reforms that strengthen the PSC regime:
- Identity verification — since 18 November 2025, PSCs and directors must verify their identity with Companies House
- Companies House powers — the Registrar can query, challenge and remove information that appears incorrect
- Enhanced penalties — greater enforcement powers for non-compliance
- Registered email address — companies must provide an email address that Companies House can use for communications
The Act’s provisions are commenced in stages, so check Companies House guidance for any requirements that apply to your company’s next filing.
PSC Register and Accounting
While the PSC register is a company law requirement rather than an accounting requirement, it is closely linked to the company’s records of share ownership. The statutory books should be maintained alongside the PSC register to ensure consistency.