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...

PSC regime for UK companies: identifying, reporting and updating people with significant control under the Companies Act 2006 and ECCTA 2023—practical examples, complex structures and excepted roles

Published by a LexisNexis Corporate expert

Practice notes

The framework of the people with significant control (PSC) regime

The people with significant control (PSC) regime, effective from 6 April 2016, is set out in Part 21A of the Companies Act 2006 (CA 2006), as modified by sections 81–83 and Schedule 3 of the Small Business, Enterprise and Employment Act 2015, and sections 44, 51 and Schedule 2 of the Economic Crime and Transparency Act 2023 (ECCTA 2023). Created to confront the opacity of corporate Ownership—where historically only the legal, and not always the beneficial, shareholder was recorded—the PSC register provides clearer and more current details of who ultimately owns and controls companies and other entities. This information is publicly accessible on the central registry kept at Companies House. It informs investors when considering whether to invest in a company and also assists law enforcement bodies with money laundering investigations. This Practice Note examines who counts as a PSC and supplies practical illustrations, drawn from the non-statutory guidance, to help entities follow their ownership structures to identify PSCs and relevant legal entities (RLEs). For equivalent information in relation to LLPs, see Practice Note:...

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Web page updated on 21/05/2026

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