Do you want to create a PSC Register right now?
Contents
PSC Register – Free Template
Sisältö
PSC Register ensures compliance and improves transparency. PSC Register is particularly important when looking for outside investment.
PSC stands for Person with Significant Control. The PSC Register is a legal document that records individuals who have significant control over a company.
We will focus on whether you need a PSC register, whether you need it and what details should be included on the register.
What is a PSC Register?
A PSC register is a formal list of the people who exercise significant control over a company or limited liability partnership.
A PSC register must be set up when you first incorporate your company if you are to maintain compliance. The legal framework is based on the Companies Act 2006 and is designed to promote greater corporate transparency.
A Person with Significant Control (PSC) is any individual who typically:
- Owns 25% or more of the shares in a company
- Has the power to vote on the performance of directors
- Routinely exercises influence over operations by other means
The PSC Register is an important document if you are seeking investment, as any investor will want to know who has ultimate control over the company's operations.
PSC Register is Mandatory for Many Companies
If your company is private, a public limited company, or an unlimited company, you will need to maintain a PSC company register.
This covers the vast majority of UK businesses, meaning that you would be well advised to check that your business falls under these legal obligations.
These Companies are Required to Do PSC Register:
- Limited companies (Ltd)
- Limited liability partnerships (LLPs)
- Societas Europaea (SEs)
Once you know that your business requires a PSC register, gathering the required information is typically a straightforward process.
What Information is Recorded in the PSC Register?
Every person with significant control should be listed on your company’s PSC register. Key details that you will need to gather for each PSC include:
- Full name and residential address
- The registered address of your company
- Nationality and country of residence
- Date of birth
There are also some more in-depth pieces of information that you will need to collect for each PSC:
- Any formal title they may have
- Percentage of their shareholding
- A description of their voting rights
A simple way to think about this is that the first set of information identifies the PSC while the second outlines the control and influence they have.
Both are required for a potential investor to see how a company functions.
Once you have collected all the details outlined above, you are ready to submit the PSC register.
💡 You can have more than one PSC, with the precise number being dictated by the structure and operational layout of the company. The details outlined above must be collected and registered for each PSC in their entirety for the PSC register to be legally compliant.
Free Template to Create PSC Register
Below is a PSC Register Template for a UK company.
PSC Register
Company Name: [Enter Company Name]
Company Number: [Enter Company Number]
Registered Office Address: [Enter Company Address]
1. Introduction
This register contains details of individuals or entities who have significant control over [Company Name], in accordance with the Companies Act 2006.
2. Persons with Significant Control (PSC) Details
| PSC Number | Name / Entity | Date of Birth (if individual) | Nationality (if individual) | Country of Residence | Nature of Control | Date Control Acquired | Notified to Companies House? (Yes/No) |
|---|---|---|---|---|---|---|---|
| 1 | [Full Name or Entity Name] | [DD/MM/YYYY] | [Nationality] | [Country] | [e.g. More than 25% shares, More than 25% voting rights, Right to appoint/remove majority of directors, etc.] | [DD/MM/YYYY] | [Yes/No] |
| 2 | [Full Name or Entity Name] | [DD/MM/YYYY] | [Nationality] | [Country] | [Nature of Control] | [DD/MM/YYYY] | [Yes/No] |
| 3 | [Full Name or Entity Name] | [DD/MM/YYYY] | [Nationality] | [Country] | [Nature of Control] | [DD/MM/YYYY] | [Yes/No] |
3. Changes to PSC Register
| Date of Change | Details of Change | Action Taken |
|---|---|---|
| [DD/MM/YYYY] | [E.g., PSC removed, PSC details updated] | [E.g., Notified Companies House] |
| [DD/MM/YYYY] | [E.g., New PSC added] | [E.g., Form PSC01 submitted] |
4. Notes & Declaration
This register is maintained as required by the Companies Act 2006 and the PSC Regulations 2016. Any changes must be updated promptly, and relevant forms (PSC01 to PSC09) must be filed with Companies House.
Date of Last Update: [DD/MM/YYYY]
Maintained by: [Name of Officer / Secretary]
Guides to Submit a PSC Register
Submission is done via post or online with Companies House. The submission will require you to confirm that all of the details recorded are correct and accurate to the best of your knowledge.
You will then need to set the PSC register as available for public inspection.
Making knowingly false or inaccurate declarations is a criminal offence, as is failing to submit a PSC register in the first place.
Submitting a PSC register to Companies House is a legal obligation for reasons of corporate transparency. If it is not clear to an outside investor or third party who financially benefits from the company’s performance, investment cannot be made in a way that rules out the potential for financial crime having occurred.
Non-Compliance With PSC Obligations
Non-compliance can have serious consequences for a company, regardless of its size or original date of incorporation.
A person of significant control must be fully registered with Companies House and publicly viewable. If this is not the case then a criminal offence has occurred — it may have been committed by the company, an individual, or both.
The penalties for non-compliance include:
- Financial penalties and a two-year prison sentence
- Personal liability of company officers and directors
- Reputational damage that makes it harder to attract investment
Companies that do not comply with this legal requirement risk financial penalties, a custodial sentence, and significant reputational damage.
A PSC register should be created when the company is first incorporated and any subsequent changes should be made as soon as possible.
Frequently Asked Questions
Read below the frequently asked questions about PSC Register.
What does PSC mean?
PSC covers anyone with a large (25% or more) shareholding, voting power, or other form of significant influence over how the company runs. These people must be publicly recorded for reasons of corporate transparency.
Do I have to pay for a lawyer?
Aatos provides a comprehensive, affordable, and legally sound way to create the correct documentation without delay. Our experts are always available to answer any questions.
How do I change a PSC register?
You are legally obliged to contact Companies House and provide details of any and all changes within 14 days of them being made. This is a grace period — doing so at the earliest opportunity is always the smart approach.
You don't have to know all this...
