Glossary · UK
What is Person with Significant Control (PSC)?
An individual who holds significant ownership or control over a UK company and must be registered on the public PSC register at Companies House.
Full Definition
A person with significant control (PSC) is defined under the Companies Act 2006 (as amended by the Small Business, Enterprise and Employment Act 2015) as anyone who meets one or more of five conditions: holding more than 25% of the shares; holding more than 25% of the voting rights; having the right to appoint or remove a majority of the board of directors; exercising or having the right to exercise significant influence or control over the company; or exercising significant influence or control over a trust or firm that itself meets one of the first four conditions. All UK limited companies, LLPs and Scottish partnerships must maintain a PSC register and file this information at Companies House, where it is publicly visible. The register was introduced to improve corporate transparency and combat money laundering and tax evasion. Failure to maintain the register or provide accurate information is a criminal offence. If a company is owned by another company (a relevant legal entity), that owning entity must be registered rather than the ultimate individual, provided it maintains its own PSC register.