PSC Regime - are you ready?

New rules on disclosure of UK companies' ultimate owners

Corporate Update

On 6 April 2016, changes to the Companies Act 2006 will introduce requirements for unlisted UK companies (and LLPs) to take steps to identify people with significant control over them and record their details in a new statutory register (known as a PSC register).  From June, companies will need to file this information at Companies House, as part of the new annual confirmation process (which will replace the current annual return).  Failure to comply with the new requirements will be a criminal offence.