What Is a PSC and How to Maintain the PSC Register
Understand what a person with significant control is, the five PSC conditions, and how to keep the PSC register accurate and updated at Companies House.
If you have just set up a UK company, one of the first legal duties you take on is identifying your people with significant control, usually shortened to PSCs. The PSC regime was introduced through Part 21A of the Companies Act 2006 and came into effect for most companies from 6 April 2016. Its purpose is straightforward: to make clear who ultimately owns or controls a company, even where shares are held through trusts, nominees or chains of holding entities.
Getting this right matters. Providing false PSC information, or failing to provide it without a reasonable excuse, is a criminal offence under the Companies Act 2006. It can also stall a bank account application, a funding round or a due diligence process, because investors and lenders check PSC data as a matter of routine.
This guide explains what a PSC is, walks through the five conditions that define significant control, sets out the information you must record, and shows how to keep the PSC register accurate. It also covers an important recent change: since 18 November 2025, companies no longer keep their own local PSC register, and Companies House maintains the record centrally instead.
What is a person with significant control?
A person with significant control is, in the words of GOV.UK, someone who owns or controls your company. In the underlying legislation, section 790C of the Companies Act 2006 defines a person with significant control as an individual who meets one or more of the specified conditions in relation to the company. Those specified conditions are set out in Part 1 of Schedule 1A to the Act.
Most PSCs are individuals, but control can also run through a relevant legal entity, such as a parent company, where that entity would itself meet one of the conditions and is subject to its own transparency rules. The regime is deliberately broad so that the real decision-makers behind a company can be identified, regardless of how the ownership is arranged. Nasara Connect covers this as part of getting a company set up correctly in our company formation service.
The company itself carries the duty to find this out. Under the regime you must take reasonable steps to identify anyone who is a PSC, contact them to confirm their details, and then report that information. You cannot simply assume you have no PSCs; you must actively check your ownership and control structure.
The five PSC conditions explained
An individual is a PSC if they meet one or more of five conditions. The first three are objective and based on shareholdings, voting rights and board control. The fourth and fifth are broader tests that catch significant influence or control exercised through other means, including through a trust or a firm without legal personality. In practice, the fourth and fifth conditions apply only in limited circumstances, and you generally consider them only where none of the first three conditions is met.
The table below sets out each condition alongside its plain-English meaning. The wording is drawn from Part 1 of Schedule 1A to the Companies Act 2006. Note the recurring threshold of more than 25 per cent for shares and voting rights, and a majority of the board for director appointments.
| Condition | Legal test | What it means in plain English |
|---|---|---|
| 1. Shares | Holds, directly or indirectly, more than 25% of the shares in the company | Someone owns more than a quarter of the company's shares, on their own or through other entities. |
| 2. Voting rights | Holds, directly or indirectly, more than 25% of the voting rights in the company | Someone controls more than a quarter of the votes at general meetings, even if their shareholding differs. |
| 3. Board control | Holds the right, directly or indirectly, to appoint or remove a majority of the board of directors | Someone can hire or fire most of the directors, giving them practical control of the board. |
| 4. Significant influence or control | Has the right to exercise, or actually exercises, significant influence or control over the company | Someone can direct the company's activities or policies even without hitting the 25% thresholds. Applies in limited circumstances. |
| 5. Trust or firm | Where a trust or firm without legal personality would meet conditions 1 to 4, the person has significant influence or control over that trust or firm | Where control runs through a trust or partnership, the person steering that trust or firm is treated as a PSC. |
PSC control thresholds at a glance
The core numeric tests that trigger PSC status under conditions 1 to 3.
How to identify your PSCs
Identifying PSCs is a duty on the company, not something you can leave to chance. The legislation requires you to take reasonable steps to find out whether anyone meets the conditions, to give notices to anyone you know or suspect is a PSC, and to confirm the information before it is reported. For a straightforward company with a small number of shareholders, this is quick. For companies with layered ownership, nominee arrangements or overseas holders, it takes more care.
Work methodically through your ownership and control structure. Start with the share register and voting arrangements, then look at who can appoint or remove directors, and only then consider whether anyone exercises significant influence or control by other means. Keeping clear evidence of the steps you took is good practice if your ownership is ever questioned.
What information the PSC register must contain
For each PSC who is an individual, you must record a defined set of particulars. These are their name, date of birth, nationality and country or state of usual residence, a service (correspondence) address, and their usual residential address. The residential address is protected and is not disclosed on the public record. You also record the date they became a PSC, the date their information was confirmed, and which of the five conditions they meet, described as the nature of their control.
Where the control arises through shares or voting rights, you record which band it falls into rather than the exact figure. The three bands are: over 25 per cent up to and including 50 per cent; more than 50 per cent and less than 75 per cent; and 75 per cent or more. Recording the correct band is important, because it signals how much control the individual holds and is checked during due diligence.
| Particular | Detail recorded |
|---|---|
| Name | Full name of the individual PSC |
| Date of birth | Day, month and year (day is protected on the public record) |
| Nationality | The PSC's nationality |
| Country of residence | Country or state of usual residence |
| Service address | Correspondence address shown on the public record |
| Residential address | Usual home address, kept protected and not disclosed publicly |
| Date became a PSC | When the individual first met one of the conditions |
| Date confirmed | When the company confirmed the information |
| Nature of control | Which of the five conditions apply, including the share or voting band |
Keeping the register up to date and filing changes
PSC information is not a one-off task at incorporation. The company has a continuing duty to find out about changes, for example when a shareholding crosses the 25 per cent threshold, when a PSC's personal details change, or when someone ceases to be a PSC. Once you become aware of a change, you must confirm the updated information and report it.
Under the PSC Regulations 2016, the classic sequence was to update your own PSC register within 14 days of confirming a change, and then to notify Companies House within a further 14 days. Since 18 November 2025, the Economic Crime and Corporate Transparency Act 2023 has removed the requirement for companies to keep their own local PSC register, and Companies House now maintains the record centrally. In practice this means you must tell Companies House about any change to your PSC information within 14 days of confirming the change, and the Companies House record becomes the authoritative source.
There is also a separate identity verification duty. PSCs are required to verify their identity and provide a personal code, with 14-day windows that depend on their circumstances, such as the period following a company's confirmation statement date or the first 14 days of their birth month. Missing these deadlines can lead to enforcement action, so it is worth diarising them alongside your confirmation statement.
Penalties and common mistakes
The PSC regime is backed by criminal sanctions. Failing to provide accurate PSC information to Companies House, without a reasonable excuse, is a criminal offence under the Companies Act 2006, and GOV.UK notes it can carry a prison sentence of up to two years, a fine, or both. The offence can apply to the company and to its officers, so it is not something to leave to the last minute.
The most common mistakes are avoidable. Companies sometimes assume they have no PSCs without carrying out the identification exercise, forget to record a shareholder whose stake creeps above 25 per cent, record the wrong control band, or miss the 14-day window to file a change. A simple internal check whenever shares move, directors change or the confirmation statement falls due will catch most of these before they become a problem.
Conclusion
A PSC is simply the person who ultimately owns or controls your company, and the regime exists to make that ownership transparent. If you can work through the five conditions, record the right particulars, and file changes with Companies House within 14 days, you have the essentials covered. The recent move to a centrally maintained record at Companies House, in force since 18 November 2025, makes accurate and timely filing more important than ever, because the Companies House entry is now the authoritative source.
Treat PSC compliance as an ongoing habit rather than a formality at incorporation. Review your ownership and control whenever shares move or directors change, keep evidence of the steps you took, and diarise the identity verification deadlines. If you would like this handled as part of forming and running your company, you can request a demo to see how Nasara Connect can help.
Frequently asked questions
What is a PSC in simple terms?
A person with significant control is an individual who owns or controls your company. Under section 790C of the Companies Act 2006, they meet one or more of five specified conditions, such as holding more than 25% of the shares or voting rights.
What are the five PSC conditions?
They are: holding more than 25% of the shares; holding more than 25% of the voting rights; the right to appoint or remove a majority of the board of directors; the right to exercise, or actual exercise of, significant influence or control over the company; and a matching test where control runs through a trust or firm without legal personality.
Do companies still keep their own PSC register?
No. Since 18 November 2025, the requirement for companies to keep a local PSC register has been removed under the Economic Crime and Corporate Transparency Act 2023. Companies House now maintains the PSC record centrally, and companies file the required information there instead.
How quickly must I report a change to my PSC information?
Once you have confirmed a change, you must tell Companies House about it within 14 days. Under the earlier PSC Regulations 2016 model, companies updated their own register within 14 days and then notified Companies House within a further 14 days.
What details do I record for each PSC?
For an individual PSC you record their name, date of birth, nationality, country of residence, a service address, their usual residential address (kept protected), the date they became a PSC, the date confirmed, and the nature of their control, including the relevant share or voting band.
What happens if I get PSC information wrong?
Failing to provide accurate PSC information to Companies House without a reasonable excuse is a criminal offence under the Companies Act 2006. GOV.UK notes it can lead to a prison sentence of up to two years, a fine, or both, and can apply to the company and its officers.
Ready to move money with confidence?
Nasara Start helps UK firms send and control payments with lower fees, better rates and full visibility.
More insights you will like.
Writing an FCA regulatory business plan
8 min read
Variation of Permission (VoP): when and how
8 min read
The FCA authorisation process explained
7 min readStay ahead of the curve
Practical guides and updates for UK firms, straight to your inbox.