PSC Register (UK)
30 September 2015
 
Legislation to establish the public register of people with significant control over UK companies and LLPs (‘PSC Register’) is now being taken through Parliament in the Small Business, Enterprise and Employment Bill.

Companies and LLPs will be required to obtain information on the people who exercise significant control, maintain this information in a register and provide it to Companies House.

From April 2016 it will be a requirement to maintain this new register. Subsequently from 30 June 2016 it will be a requirement to file with Companies House when submitting the new Confirmation Statement (which replaces the Annual Return), and upon incorporation of new entities.

Clients who need to hold this information and report to Companies House in the UK should begin to prepare their ViewPoint environment and enter relevant data. A practice note relating to this is on the ViewPoint Support Web site and can be obtained either directly by your system manager, or through your local ViewPoint representative.

This initiative is not unique to the UK and will likely broaden out to other countries in the fullness of time. If any ViewPoint client requires to record the same information and requires specific output for their purposes, please contact your local ViewPoint representative.