Important changes are taking place on 26th June and 24th July 2017 regarding the information required by the UK Companies Registry. These changes are as a result of the Fourth European Money Laundering Directive.
Changes from 26th June 2017
• Information about those people with significant control (PSC) of a company will need to be registered with Companies House by submitting a separate form (PSC01 for individuals and PCS02 for non-individuals like other companies or trusts). Previously information about PSCs was submitted as part of a company’s annual return/company structure report.
• Any change in the PSC of a company must be recorded in the company’s own internal register within 14 days. By ‘change’ we mean PCS joining or leaving; changing their degree of control or any changes in any PSC contact details.
• Within 28 days of any change the changes should be notified to Companies House using PSC01 or PSC02.
• Some companies are currently exempt from providing PSC information. This exemption is under review and any company currently exempt should check post 26th June that they remain so.
Changes from 24th of July 2017
• Existing Scottish partnerships with limited and unlimited liability (SLPs and SPs) will be required to provide data about their PCS to Companies House. PCS information will also be required for new partnerships registering.