Draft guidance on identifying and recording people with significant control and Government response to the consultation on the regulations
The requirement for companies and LLPs to maintain a register of People with Significant Control (PSC) will come into force from 6 April 2016. Draft guidance has been published about the process for identifying and recording who are PSCs, covering statutory guidance for companies and LLPs on understanding the meaning of ‘significant influence or control’, and various non-statutory guidance for companies on the PSC requirements. Comments on this draft guidance have been requested by 11 January 2016. It is understood that draft guidance for PSCs themselves is also being prepared and that Companies House is to provide separate guidance on the filing of PSC information as part of incorporation or the annual confirmation statement. The Government has also published its consultation response on and amendments to the PSC regulations.