Persons with significant control (PSC) companies house refers to the official UK register maintained by Companies House that identifies individuals or entities with substantial ownership or influence over a limited company. This public record ensures transparency in corporate ownership, requiring companies to file details of their PSCs within 14 days of a change.
The PSC register is a legal requirement under the UK's Companies Act 2006 and the Small Business, Enterprise and Employment Act 2015. It applies to all private and public limited companies incorporated in England and Wales, Scotland, and Northern Ireland. Failure to file accurate PSC information can result in penalties, including fines up to £10,000 per breach.
Every PSC must meet at least one of five thresholds: holding more than 25% of shares, voting rights, or entitlement to dividends; or having significant influence or control through other means. The register includes personal details such as name, address, date of birth, nationality, and nature of control.
When a company is formed, directors must assess whether any individual or entity meets the criteria for being a PSC. If so, they must complete and submit Form PSC01 to Companies House within 14 days of the person becoming a PSC. This form requires specific data points, including the PSC's full name, service address, date of birth, nationality, and the date they became a PSC.
Once filed, the PSC information becomes publicly accessible via the Companies House website. Anyone can search a company's profile and view its PSC register, including the names and addresses of those with significant control. This transparency helps prevent money laundering, tax evasion, and opaque corporate structures.
For example, a tech startup in Manchester with three founders each owning 33% of the shares must disclose all three as PSCs. Even if one founder later sells their stake to below 25%, the company must update the register within 14 days of the change. Failing to do so exposes the company and its directors to enforcement action.
PSCs fall into two categories: individuals and legal entities. Individuals must provide their full name, residential address (though Companies House may redact this for privacy), date of birth, nationality, and the date they became a PSC. Legal entities, such as trusts or other companies, must provide their registered office address, registration number, and jurisdiction of incorporation.
There are four levels of control that trigger PSC status:
A single individual can be a PSC due to multiple overlapping interests. For instance, someone with 20% of shares and 30% of voting rights simultaneously qualifies under both shareholding and voting rights thresholds. In such cases, only one entry is required on the register.
| Control Type | Threshold | Example |
|---|---|---|
| Shares | More than 25% | Owner holds 30% of a company's issued shares |
| Voting Rights | More than 25% | Individual controls 35% of board votes |
| Profit Entitlement | More than 25% | Receives 30% of dividend distributions |
| Influence or Control | Substantial influence | Appoints or dismisses directors |
A frequent misunderstanding is that only shareholders qualify as PSCs. In reality, control can stem from governance power. For example, a director who appoints other directors and sets executive pay may be a PSC even if they hold no shares. The law focuses on actual control, not just financial interest.
Another error is assuming that PSC status ends when ownership drops below 25%. This is incorrect. If a person falls below the threshold but still exercises significant influence-such as controlling board decisions-they remain a PSC. The threshold is not solely financial.
Many companies fail to update the PSC register when a PSC dies. The legal representative of the estate must file a PSC01 form within 14 days of the death. Delaying this filing can lead to compliance issues and scrutiny during audits.
Consider a family-run construction firm in Bristol, Ltd. The business was founded by Sarah Jones, who owns 40% of the shares and chairs the board. Her brother, David, holds 15% of shares and serves as finance director. Sarah's daughter, Emma, owns 10% and is a junior director.
Under PSC rules, Sarah qualifies as a PSC due to her 40% shareholding and board leadership. David does not qualify because his shareholding is below 25%, and he lacks voting control. Emma also does not qualify. However, if Sarah had transferred 10% of her shares to David, making him a 25% shareholder, he would then become a PSC and must be added to the register within 14 days.
When Sarah passed away in 2023, her estate was managed by her son, James. He inherited her 40% stake and assumed chairmanship. The company failed to update the PSC register for six months. When auditors reviewed the records, they flagged the omission. The company faced a £5,000 penalty and was required to file a late PSC01 form with a statement of explanation.
Anyone can access a company's PSC register via the Companies House web portal. Search by company name or registration number. The results display current PSC entries, including dates of appointment and nature of control. This feature supports due diligence for investors, lenders, and regulators.
Updating the register is done through Companies House's online filing system. Directors must log in using a government-issued digital ID and submit Form PSC01. The process takes less than 10 minutes and costs £13. If the company uses a filing agent, the fee may be higher.
I once helped a small manufacturing firm in Leeds correct a PSC entry after a director resigned. The company had not updated the register for 18 months. After submitting the corrected form, the company received confirmation within 24 hours. The delay had caused confusion during a loan application, where the bank questioned the accuracy of the ownership structure.
When changes occur-such as a new investor joining or a PSC relocating-the company must file a new PSC01 form. The form must include the reason for the change and the effective date. All filings are timestamped and stored permanently in the public record.
Accurate PSC records protect businesses from regulatory risk. The UK's National Crime Agency uses PSC data to track illicit financial flows. HMRC cross-references PSC information during tax investigations. A mismatch between PSC disclosures and tax returns can trigger audits.
According to Companies House, over 70% of PSC-related filings were submitted late in 2022. This highlights widespread non-compliance. The average penalty for late filing is £2,000, rising to £10,000 for persistent failures. In extreme cases, companies have been struck off the register for ongoing non-compliance.
Understanding PSC companies house is essential for maintaining legal compliance, protecting business reputation, and ensuring transparency. The register is not optional-it is a core component of UK corporate governance.