In our blog last week we advised on the anticipated changes to the ‘persons with significant control’ (PSC) regime which was due to come into effect. The new regulations came in to force on the 26 June 2017.
Among other things, the new regulations require “current” updating of the PSC details maintained at Companies House.
The PSC register will no longer be updated on the annual confirmation statement, but instead, companies will be required to update their PSC register within 14 days of the change in beneficial ownership and will have a further 14 days to file a notification of changes with Companies House.
What do you need to do now?_
As a transitional step if changes have occurred in relation to the PSC register since the last confirmation statement was delivered to Companies House, notification of these changes should be filed with Companies House using forms PSC01 to PSC09 by 10 July 2017.