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Persons of Significant Control Update

  • Posted

Monday 26th June 2017 is the deadline to bring the Fourth Money Laundering Directive (MLD4) into UK law.

What does this mean for companies and the requirement to disclose their beneficial owners? 

Currently, any changes to Persons of Significant Control (PCS) must be notified via a company’s Confirmation Statement. The additional headache has been if there have been multiple changes to the PSC’s, through share transfers for instance, these must be notified on individual Confirmation Statements.

Companies House have announced that from Monday 26th June 2017 any changes to the PSC’s on a company must be recorded within the PSC register and notified on a new set of forms (PSC01 – PSC09).

  • Changes must be recorded within the companies PSC register within 14 days of the change
  • The change must be filed with Companies House within another 14 days

If you need any advice or assistance to file your Confirmation Statements and/or filing changes to PSC’s via the new forms being introduced please contact Margaret Evans or the Corporate team at FDR Law on 01925 230000 or by email Margaret.Evans@fdrlaw.co.uk