Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

PSC definition

What does PSC mean? PSC describes, in practice, an individual who ultimately owns or controls a UK company, LLP or certain Scottish partnerships. It is a statutory concept: “person with significant control” is defined in the Companies Act 2006, Part 21A and Schedule 1A (mirrored for LLPs and Scottish limited/qualifying Scottish partnerships). A person is a PSC if they meet any statutory condition, including: holding more than 25% of shares; holding more than 25% of voting rights; having the right to appoint or remove a majority of the board; otherwise exercising significant influence or control; or exercising such control through a trust or firm. Where...

UK PSC regime after ECCTA 2023: abolition of company PSC registers and new Companies House filing and updating duties

Published by a LexisNexis Corporate expert

Practice notes

A well-maintained register of people with significant Control (PSC) should make publicly available who ultimately owns and controls companies and other entities.

The PSC framework applies to UK-incorporated companies limited by shares or by guarantee (including unlimited companies, unregistered companies, community interest companies and dormant companies), limited liability partnerships (LLPs), and eligible Scottish partnerships, namely Scottish limited partnerships and Scottish qualifying general partnerships (ESPs).

For clarity, this guide chiefly refers to companies.

For information on the regime’s scope, including how a company might most effectively obtain relevant beneficial ownership details, see Practice Note: PSC register—the people with significant control regime.

Corporate transparency reform—changes to the PSC regime

The Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023) received Royal Assent on 26 October 2023 and is being introduced in phases across multiple commencement dates.

Many provisions will only commence once detailed secondary legislation and guidance are in place, while others require the rollout of new technical processes and tools before they can operate.

It is anticipated that ECCTA 2023 will not be fully in force until 2027. ECCTA 2023 includes amendments to the Companies Act 2006 (CA...

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Web page updated on 22/05/2026

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