What is PSC?

PCS
A Person with Significant Control (PSC) is someone who has significant influence or control over a business. Since 2016 private UK companies and LLPs (Limited Liability Partnerships) have had to file a PSC register annually with HMRC.

The PCS register is intended to create transparency around the ownership and control of UK businesses. Businesses can have more than one Person with Significant Control on their PCS register. The register is compiled and submitted annually to HMRC within the Confirmation Statement (previously the Annual Return).

Who should appear on a PSC register?

A PCS register should include anyone who meets one or more of the following criteria:

  • Owns over 25% of the shares in the company
  • Owns over 25% of the voting rights in the company
  • Has the right to appoint or remove more than 50% of the board of directors in the company
  • Has the right to exert, or does exert, significant control or influence over the company
  • Has significant control or influence over a Trust or Firm that meets one or more of the above criteria.

Any questions?

We are happy to answer your questions regarding who should be included on a PCS register, and how to submit it to HMRC.