{"id":89197,"date":"2018-02-20T16:05:00","date_gmt":"2018-02-20T16:05:00","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=c7e6d9f84375c3c89d5a30928f24c15f"},"modified":"2018-02-20T16:05:00","modified_gmt":"2018-02-20T16:05:00","slug":"news-story-people-with-significant-control-psc-who-controls-your-company","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=89197","title":{"rendered":"News story: People with significant control (PSC): who controls your company?"},"content":{"rendered":"<div class=\"govspeak\">\n<p>A person with significant control (<abbr title=\"people with significant control\">PSC<\/abbr>) is someone who owns or controls your company. They\u2019re sometimes called \u2018beneficial owners\u2019.<\/p>\n<p>You must <a href=\"#identify\">identify your <abbr title=\"people with significant control\">PSC<\/abbr><\/a> and tell us who they are. This might be you, or someone associated with your company.  A company can have one or more <abbr title=\"people with significant control\">PSC<\/abbr>.<\/p>\n<p>You must <a href=\"#recording-PSC\">record their details<\/a> on your company\u2019s <abbr title=\"people with significant control\">PSC<\/abbr> register and send us this information. If you can\u2019t identify your <abbr title=\"people with significant control\">PSC<\/abbr>, or believe you don\u2019t have one, you need to tell us why. The  easiest way to do this is online.<\/p>\n<div class=\"call-to-action\">\n<p>Send us your <abbr title=\"people with significant control\">PSC<\/abbr> information <a rel=\"external\" href=\"https:\/\/ewf.companieshouse.gov.uk\/\/seclogin?tc=1\">online<\/a>.<\/p>\n<\/div>\n<p>If you don\u2019t already have an online account with us, you\u2019ll need to <a rel=\"external\" href=\"https:\/\/ewf.companieshouse.gov.uk\/\/runpage?page=webfilingRegister&amp;signUpPage.lang=en\">register<\/a>.<\/p>\n<p>You can also send us <abbr title=\"people with significant control\">PSC<\/abbr> information using <a href=\"https:\/\/www.gov.uk\/company-filing-software\/filing-other-information\">third-party software<\/a>.<\/p>\n<h2 id=\"identify\">Identifying your <abbr title=\"people with significant control\">PSC<\/abbr><br \/>\n<\/h2>\n<p><a rel=\"external\" href=\"https:\/\/www.youtube.com\/watch?v=DYuYWiZTuN4\">How to identify people with significant control (<abbr title=\"people with significant control\">PSC<\/abbr>)<\/a><\/p>\n<p>A <abbr title=\"people with significant control\">PSC<\/abbr> must meet one or more of the following conditions of control.<\/p>\n<p>Most PSCs are likely to be people who hold:<\/p>\n<ul>\n<li>more than 25% of shares in the company<\/li>\n<li>more than 25% of voting rights in the company<\/li>\n<li>the right to appoint or remove the majority of the board of directors<\/li>\n<\/ul>\n<p>If your <abbr title=\"people with significant control\">PSC<\/abbr> holds more than 25% of shares, they\u2019re likely to hold the same amount of voting rights.<\/p>\n<p>You should check your company\u2019s register of shareholders. Your company\u2019s constitution and articles of association may also contain information on voting and other rights.<\/p>\n<h4 id=\"other-significant-influence-or-control\">Other significant influence or control<\/h4>\n<p>Your <abbr title=\"people with significant control\">PSC<\/abbr> might influence or control your company through other means. This could be directly, or on behalf of someone else. For example, someone who tells the directors or shareholders what to do.<\/p>\n<p>This condition will only apply in limited circumstances. <a href=\"https:\/\/www.gov.uk\/government\/publications\/guidance-to-the-people-with-significant-control-requirements-for-companies-and-limited-liability-partnerships\">Further guidance<\/a> is available on the meaning of significant influence or control.<\/p>\n<h4 id=\"companies-controlled-by-a-trust-or-firm\">Companies controlled by a trust or firm<\/h4>\n<p>If a trust or firm influences or controls your company, you must decide if they meet any conditions of control described above. If they do, any person who controls the trust or firm is a <abbr title=\"people with significant control\">PSC<\/abbr> of your company.<\/p>\n<p>If you think this applies, you should get professional advice.<\/p>\n<h2 id=\"recording-PSC\">Recording your <abbr title=\"people with significant control\">PSC<\/abbr> information<\/h2>\n<p>You\u2019ll need to confirm certain details with your <abbr title=\"people with significant control\">PSC<\/abbr>, and record them in your <abbr title=\"people with significant control\">PSC<\/abbr> register. These details are:<\/p>\n<ul>\n<li>name<\/li>\n<li>date of birth<\/li>\n<li><a href=\"https:\/\/www.gov.uk\/government\/publications\/nationalities\">nationality<\/a><\/li>\n<li>\n<a href=\"https:\/\/www.gov.uk\/government\/publications\/nationalities\">country<\/a> of residence<\/li>\n<li>service address<\/li>\n<li>usual residential address (not displayed to the public)<\/li>\n<li>the date they became a <abbr title=\"people with significant control\">PSC<\/abbr> of the company<\/li>\n<li>the date you entered them into your <abbr title=\"people with significant control\">PSC<\/abbr> register<\/li>\n<li>which conditions of control are met<\/li>\n<\/ul>\n<p>You must include the level of their shares and voting rights, within the following categories:<\/p>\n<ul>\n<li>over 25% up to (and including) 50%<\/li>\n<li>more than 50% and less than 75%<\/li>\n<li>75% or more<\/li>\n<\/ul>\n<h2 id=\"contacting-your-psc\">Contacting your <abbr title=\"people with significant control\">PSC<\/abbr><br \/>\n<\/h2>\n<p>You must try to identify and contact anyone you think may be a <abbr title=\"people with significant control\">PSC<\/abbr> of your company. If they refuse to provide <abbr title=\"people with significant control\">PSC<\/abbr> information, they\u2019re committing a criminal offence.<\/p>\n<p>You can place restrictions on the shares or voting rights of someone who won\u2019t give you this information. Applying restrictions is a significant step. You should only consider this if they\u2019ve repeatedly refused your requests.<\/p>\n<p>If you\u2019re thinking of making restrictions, you should <a href=\"https:\/\/www.gov.uk\/government\/publications\/guidance-to-the-people-with-significant-control-requirements-for-companies-and-limited-liability-partnerships\">read the guidance<\/a> first.<\/p>\n<h2 id=\"changes-to-your-psc-information\">Changes to your <abbr title=\"people with significant control\">PSC<\/abbr> information<\/h2>\n<p>If your <abbr title=\"people with significant control\">PSC<\/abbr> information changes, you must update your company\u2019s <abbr title=\"people with significant control\">PSC<\/abbr> register and tell us as soon as possible. The easiest way to do this is <a rel=\"external\" href=\"https:\/\/ewf.companieshouse.gov.uk\/\/seclogin?tc=1\">online<\/a>. This could be changes to an existing <abbr title=\"people with significant control\">PSC<\/abbr>, such a new address or condition of control. You could also have a new <abbr title=\"people with significant control\">PSC<\/abbr>, or someone who\u2019s no longer a <abbr title=\"people with significant control\">PSC<\/abbr>.<\/p>\n<div class=\"call-to-action\">\n<p>Update your <abbr title=\"people with significant control\">PSC<\/abbr> information <a rel=\"external\" href=\"https:\/\/ewf.companieshouse.gov.uk\/\/seclogin?tc=1\">online<\/a>.<\/p>\n<\/div>\n<h2 id=\"protection-for-people-at-risk\">Protection for people at risk<\/h2>\n<p>All <abbr title=\"people with significant control\">PSC<\/abbr> information is available to the public, apart from their home address. The day is also hidden from their date of birth.<\/p>\n<p>In exceptional cases, some individuals can <a href=\"https:\/\/www.gov.uk\/government\/publications\/restricting-the-disclosure-of-your-psc-information\">apply to protect their <abbr title=\"people with significant control\">PSC<\/abbr> information<\/a>. If they\u2019ve applied, or been granted protection, you should note this on your <abbr title=\"people with significant control\">PSC<\/abbr> register. You must hide their personal details.<\/p>\n<p>Protection from disclosure applies from the date the application is made to us.<\/p>\n<div class=\"address\">\n<div class=\"adr org fn\">\n<p>If a <abbr title=\"people with significant control\">PSC<\/abbr> has already been granted protection as a director, they must re-apply for protection as a <abbr title=\"people with significant control\">PSC<\/abbr>.<br \/>\n\n<\/p>\n<\/div>\n<\/div>\n<h2 id=\"other-company-types\">Other company types<\/h2>\n<p>Limited liability partnerships (<abbr title=\"limited liability partnership\">LLP<\/abbr>), eligible Scottish partnerships and societas Europaea (SE) must also send us their <abbr title=\"people with significant control\">PSC<\/abbr> information.<\/p>\n<p>Information on these company types can be found in the <a href=\"https:\/\/www.gov.uk\/government\/publications\/guidance-to-the-people-with-significant-control-requirements-for-companies-and-limited-liability-partnerships\">full guidance<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>How to identify and record the people who own or control your company.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/89197"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=89197"}],"version-history":[{"count":2,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/89197\/revisions"}],"predecessor-version":[{"id":89215,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/89197\/revisions\/89215"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=89197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=89197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=89197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}