How can we help?


Upcoming requirements for PSC’s

New laws relating to companies started to arrive in 2015 and will continue to arrive over the course of this year. Some will even have practical implications for your business at ground level, so all ears (or eyes) please…

One of the new upcoming requirements is in relation to people with significant control (PSC) over a business. From April 2016, companies or LLPs will be required to identify PSCs by keeping a publicly accessible register of such people containing various bits of information. Where control is exercised by a company (rather than a human being), one benefit is that the register will pave the way to get to a human being up along the corporate tree relatively easily (at least compared to the way it is now).

A PSC is someone who has more than 25% of a company or LLP’s shares or voting rights, or someone who exercises control of its management in some other way. Although this means additional compliance matters for your business, there may also be some benefits to transparency.

Chambers and Partners

The Clarkslegal team are commercial and good to work with. They get what our business needs and tell me what I need to hear.

Until recently, similar disclosure rules applied only to the big cats in the UK market (i.e. publicly traded cats) but, since the market is made up of some 5.4 million other businesses (of which more than 99% are SMEs), it was about time such rules were rolled out to the rest of the business population.

Given the definition of PSC, the information on the register can be more insightful than what is currently available from Companies House. Not only will we have information relating to shareholders but also about those who effectively control the running of the company. All of this will, no doubt, be of use when it comes to identifying who you really need to be dealing with in certain corporate and commercial transactions, or even who you need to be going after in a dispute.

If you’d like help setting up your register or have any questions about the implications of the new laws for you and your business do get in touch.

About this article


This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full General Notices on our website.

About this article

Read, listen and watch our latest insights

  • 22 February 2024
  • Employment

Time to take the heat off menopausal women

On 22 February 2024, the EHRC released guidance and resources for employers designed to help employers understand their legal obligations in relation to supporting workers experiencing menopausal symptoms.

  • 22 February 2024
  • Employment

Talking Employment Law: What to do if you’re at risk of redundancy

In this podcast, Harry Berryman and Rebecca Dowle, members of the employment team, will talk through the steps that need to be taken for a redundancy to be fair and the range of criteria that can be used when determining which employees will be made redundant.

  • 21 February 2024
  • Immigration

FAQs Partner Visa UK

Discover the UK Spouse Visa: eligibility, finances, relationship criteria, and the latest updates in 2024 for a successful application.

  • 19 February 2024
  • Privacy and Data Protection

The role of Data Protection Officers in ensuring compliance

How many of us receive marketing calls for products and services we did not sign up for?

  • 12 February 2024
  • Employment

The World of Work in 2024- What Can HR Expect?

In many senses, 2024 is unlikely to be a year with radical ruptures from those that have gone before it. The significance of 2024 though, is that it is likely to build upon those megatrends impacting the world of work, which have been emerging for some time now and are only likely to strengthen as we move on in time.

  • 09 February 2024
  • Privacy and Data Protection

Are we suffering from cookie fatigue?

An over-indulgence in Easter treats might not be the only cookie fatigue that individuals will suffer this year according to the Information Commissioners Office (ICO).