What Does PSC Mean?
PSC stands for Person with Significant Control. These are individuals who hold a certain level of ownership or influence over a company, even if they’re not listed as a director or major shareholder.
All UK companies (except some publicly traded ones) must:
- Identify their PSCs
- Record the information in a PSC register
- File it with Companies House
- Keep it updated
Failing to do so can result in penalties for the company and its officers.
Who Qualifies as a PSC?
An individual is considered a Person with Significant Control if they meet one or more of the following criteria:
- Holds more than 25% of the shares in the company
- Holds more than 25% of the voting rights
- Has the right to appoint or remove the majority of directors
- Exercises (or has the right to exercise) significant influence or control
- Has significant influence over a trust or firm that meets any of the above conditions
In many companies, especially startups, the PSC is simply the founder or sole director/shareholder. In more complex structures, identifying PSCs may require analysis of indirect control.
What Information Must Be Recorded?
The PSC register must include:
- Full name
- Date of birth
- Nationality
- Country of residence
- Service address
- Nature of control (e.g., shareholding percentage)
This information must also be submitted to Companies House and kept current at all times.
Dragonfly Associates assists with identifying PSCs, recording the correct data, and updating filings where agreed within your compliance package.
What If My Company Has No PSC?
If your company genuinely has no Person with Significant Control (which is rare), you must state this explicitly in the register.
You are not allowed to leave the PSC section blank. If you are still in the process of confirming who the PSC is, a placeholder statement must be filed until accurate details can be submitted.
What Happens If I Don’t Comply?
Non-compliance with PSC requirements may result in:
- Fines of up to £1,000 (per offence)
- Daily default fines for continued non-compliance
- Reputational damage and potential difficulty opening business bank accounts
It is the directors’ legal responsibility to ensure the PSC register is accurate and up to date.
We help directors and company secretaries manage this requirement as part of our corporate compliance services, available under service agreement.
Frequently Asked Questions
Is the PSC register public?
Yes. Some information is visible on the Companies House website. Sensitive details like full birthdates and residential addresses are protected.
Can I list a corporate entity as a PSC?
Only in limited cases. Most companies must identify a real individual behind any corporate ownership.
Do I need to file a new PSC register every year?
You must update your PSC details any time they change and confirm them annually through your Confirmation Statement.
Maintain Transparency with Confidence
The PSC register is a central part of running a compliant UK company. It reflects transparency, trust, and legal awareness—all of which matter to banks, investors, and regulators.
Dragonfly Associates supports clients in maintaining PSC registers accurately and legally, helping you meet your obligations without added stress.
To learn more or include PSC support in your compliance service plan, get in touch with our team.
