Register of people with significant control

The Register of People with Significant Control Regulations SI 2015/Draft which mandate the requirement for companies and LLPs to maintain a register of people with significant control (PSC) come into force on 6 April 2016. Draft guidance (www.bit.ly/1Rk84be) has been published covering the process of identifying and recording PSCs while Companies House will provide separate guidance covering the filing of PSC information as part of incorporation or the annual confirmation statement.

The government has also published its consultation response (www.bit.ly/1PpA0on) as well as amendments to the draft PSC regulations confirming that companies and small enterprises will be required to keep a PSC register from 6 April 2016 and will need to send the information to Companies House with their confirmation statement (which replaces the annual return) or on incorporation from 30 June 2016 onwards.

Regulations to bring LLPs into the PSC...