{"id":1193,"date":"2016-02-18T13:15:21","date_gmt":"2016-02-18T13:15:21","guid":{"rendered":"http:\/\/www.bainesjewitt.co.uk\/blog\/?p=1193"},"modified":"2016-02-18T13:15:21","modified_gmt":"2016-02-18T13:15:21","slug":"new-psc-register-will-affect-almost-all-uk-companies","status":"publish","type":"post","link":"https:\/\/www.bainesjewitt.co.uk\/blog\/new-psc-register-will-affect-almost-all-uk-companies\/","title":{"rendered":"New \u201cPSC register\u201d will affect almost all UK companies"},"content":{"rendered":"<p>From April 2016, all UK private companies and LLPs will have to disclose their beneficial owners under the new Persons of Significant Control (PSC) register.<!--more--><\/p>\n<p>The register, introduced under The Small Business, Enterprise &amp; Employment Act 2015, brings new rules on identifying and recording who owns and controls these type of firms.<\/p>\n<p>The firms in question will be required to collect and keep information about people with significant control over their operations (PSCs) \u2013 including all those who own or control 25% of their operations, whether directly or indirectly.<\/p>\n<p>The change will affect almost all UK companies, except for listed public companies.<\/p>\n<p>The new rules require businesses to:<\/p>\n<ul>\n<li>Keep a PSC register<\/li>\n<li>Take reasonable steps to identify those who should be registered on the PSC register<\/li>\n<li>Record the PSC\u2019s details and keep the register up to date<\/li>\n<li>Make the register available for public inspection<\/li>\n<li>Provide all this information to Companies House (From 30th June 2016)<\/li>\n<\/ul>\n<p>If a company considers itself dormant, or has no interests to be registered, they must still keep a register, as non-compliance could lead to criminal sanctions.<\/p>\n<p>The Government is currently still finalising the details of the register, and it is expected that the draft statutory guidance will be made available in final form very shortly.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From April 2016, all UK private companies and LLPs will have to disclose their beneficial owners under the new Persons of Significant Control (PSC) register.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1193"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=1193"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1193\/revisions"}],"predecessor-version":[{"id":1194,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1193\/revisions\/1194"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=1193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=1193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=1193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}