PSC register requirements

The corporate regulatory landscape is constantly evolving. The government faces increasing pressure to improve transparency around the ownership and control of UK companies and limited liability partnerships (LLPs). One of the key measures introduced to support this objective is the register of people with significant control, commonly known as the PSC register. However, the rules can be complex, particularly where ownership and control are not straightforward.

To help you understand the requirements, we explain the key principles, the information that must be reported and the potential consequences of non-compliance.

The PSC register - why was it created?

The PSC regime was introduced to improve transparency over who ultimately owns or controls UK businesses. It is intended to help deter money laundering and other financial crime, support law enforcement investigations and provide greater transparency for investors and the public.

The requirements apply to most UK companies and LLPs, as well as certain other entities, including UK Societas and eligible Scottish partnerships. Some exceptions apply, including for certain companies whose securities are admitted to trading on specified regulated markets..

How is "significant control" measured for the PSC register

For a company, a person with significant control (PSC) is generally an individual who meets one or more of the following conditions, directly or indirectly:

• Holds more than 25% of the company’s shares;
• Holds more than 25% of the company’s voting rights;
• Has the right to appoint or remove a majority of the board of directors;
• Has the right to exercise, or actually exercises, significant influence or control over the company; or
• Has the right to exercise, or actually exercises, significant influence or control over the activities of a trust or firm that meets certain statutory conditions.

Meaning of control

Significant influence or control” is assessed by reference to the circumstances and the statutory guidance. It may arise where an individual has the ability to direct or influence a company’s policies or activities, even if they do not hold a substantial shareholding or formal voting rights.

It is often necessary to review shareholder agreements, investment agreements and other corporate documents to establish who holds the relevant rights or exercises significant influence or control.

What information must be submitted?

The information required depends on whether the person being reported is an individual or a relevant legal entity. For an individual PSC, the details generally include:

• Their name;
• Their service address;
• Their usual country, state or part of the UK of residence;
• Their nationality;
• Their date of birth;
• Their usual residential address, which is not publicly disclosed;
• The date on which they became a PSC;
• The date on which they confirmed their details; and
• The nature of their control, including the applicable shareholding or voting-rights band where relevant.

The information must be reported to Companies House. Since 18 November 2025, companies have no longer been required to maintain a separate local PSC register, but they must still identify their PSCs and keep the information held at Companies House up to date.

Identity verification requirements

PSC identity verification is now a legal requirement. The requirement began on 18 November 2025 and is being phased in, with deadlines depending on the individual’s circumstances.

PSCs must verify their identity and provide their Companies House personal code within the applicable period. The process differs depending on whether the individual is also a director of the same company, is a PSC only, or has recently become a PSC. Failure to comply may constitute an offence.

What are the potential legal or other risks?

Companies must take reasonable steps to identify their PSCs and ensure that the information reported to Companies House is accurate and up to date. This can be more complicated where ownership involves corporate entities, overseas parent companies, trusts or nominee arrangements.

For example, the registered shareholder may not be the person who ultimately exercises control. Where an individual exercises control indirectly, the relevant statutory conditions must be considered to establish whether that individual should be reported as a PSC.

Companies must provide required PSC information within the applicable statutory deadlines. In general, information must be submitted within 14 days of confirmation, and changes must be reported within 14 days of confirmation of the change. Companies must also confirm that the information on the public register is accurate if it has not been updated within the previous 12 months.

Failure to comply with PSC requirements can result in criminal offences and, in some circumstances, fines or imprisonment. Liability may extend to the company and officers in default, as well as individuals or entities who fail to comply with statutory information requests without a reasonable excuse.

Where a person fails to respond to a valid request for information, restrictions may also be imposed on their shares or rights, subject to the applicable statutory procedure

Identity of directors

The identity and accountability of company directors are also an important part of the UK’s corporate transparency framework. Corporate directors are not yet subject to a blanket prohibition. The government’s implementation plan provides for future restrictions under which a corporate director will generally need to be a UK-registered entity with legal personality and have a board made up of natural persons whose identities have been verified. The restrictions are subject to implementation and should be checked against the law in force at the relevant time.

Directors duties apply to shadow directors

Shadow directors are individuals whose directions or instructions the directors of a company are accustomed to follow, subject to the statutory definition and exceptions. The general duties owed by directors can apply to shadow directors where, and to the extent that, those duties are capable of applying to them.

This means that a person who exercises influence behind the scenes may face potential legal consequences if their conduct breaches duties owed to the company. The position depends on the facts and the nature of their involvement.

Investors, board observers and individuals who influence board decisions should therefore consider whether their role could bring them within the rules governing shadow directors.

Protection of date of birth details

Companies House generally displays only the month and year of an individual’s date of birth, rather than the full date, on the public register. The full date is still collected for statutory purposes but is not generally made publicly available. This helps protect personal information while supporting transparency over who owns or controls a business.