People with significant control (PSC)

[domascc]

I can't clearly understand meaning of PSC. I'm 100% share holder and complete owner of a company registered from 2014, this year when I'm trying to complete confirmation statement it ask to fill a notification of a person with significant control. Am I PSC of my company? Any comments will be highly appreciated.

 

[UKSBD]

Have a look here https://www.gov.uk/government/publi...-companies-and-limited-liability-partnerships

I just created a document with the following and sent to my accountant;

Name: --
Service Address: --
Nationality: --
Country of Residence: --
Date of Birth: --
Residential Address: --
Date became registerable: --
Nature of control over Company: --
Restrictions on disclosure: --

 

[Blood Lust]

I might be barking up the wrong tree but is this to do with auditing to make sure your firm has proper controls in place on people who could go damage your firm if they made bad spending decisions? I.e. Checks and measures on them so they need authorisation for spending above certain limits?

 

[Scalloway]

The legislation for registering PSCs is intended to give greater transparency in the
ownership and control of UK companies and to help in the fight against money laundering.

 

[The Byre]

Oh goody, goody! Another silly acronym!

 

[IQ Webz Ltd]

Yes. PSCs are those who can influence company in major way.

 

[domascc]

Many thanks for all comments I really appreciate it. But there's something still unclear for me. From comments I understand I'm PSC (I'm only one owner of my LTD and I control it 100%) but when I'm trying to fill it in confirmation statement it ask what date I become PSC and only choice is from 2016 but I own this LTD from 2014. So what date I should enter? Thank you for your time I really appreciate it.

 

[GraemeL]

You are right, 2016 is the only option. You can put in the day/month that your return would normally take effect from, but the year will be 2016.

 

[Anna Chandley]

6 April 2016 should be used for anyone who met the conditions prior to this date.