The PSC Register and forthcoming changes

It became a legal requirement from April 2016 for all private limited companies and LLP’s to maintain a Register of People with Significant Control. From last June, companies are required to provide details of their PSC’s to Companies House. Those who fail to comply are exposing themselves to the risk of significant fines but despite this, compliance remains by no means universal. All company directors need to ensure they are on top of this. And despite the ink on the legislation being barely dry, the government is shortly going to have to make amendments to the regime in order to bring it into line with the EU law Fourth Money Laundering Directive. Legislation is expected in the first half of this year to address that. We can guide you through what you need to do to comply. If you have not yet addressed this important legal development, get in touch and let us help.