Update on company law changes

In April of this year, legislation came into effect which required companies to keep a register of people with significant control over the company.

The register, known as the PSC register, must include particulars of individuals and relevant legal entities who have significant control.

Additional legislation came into effect on 30 June 2016 which means that when a company is first registered, a statement of initial significant control must be made to Companies House.

For existing companies, the new legislation means that companies are required to send information contained within its PSC register to the Registrar if there have been changes to when the information was previously delivered.  The new procedure replaces the requirement of filing an annual return.

For further details of what information must be included in the PSC register and other changes that have been implemented, please see our previous article by clicking here.

It is imperative that companies comply with the changes that have been introduced as failure to do so could result in criminal proceedings being brought. We are able to provide company secretarial services for your company which can include maintaining your company’s PSC register. If you would like further details please contact Jennifer on 01792 525 466 or email Jennifer.Rosser@jcpsolicitors.co.uk.