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A new regulation that requires companies to create a ‘Register of People with Significant Control’ (PSC register) comes into force on 6 April 2016.
The changes should not be too strenuous for companies, but it is important that they are aware and fulfil their obligations in line with the new rules.
What is a PSC register?
The PSC register forms part of the reform to UK company law that was introduced in the Small Business, Enterprise and Employment Act 2015.
Yesterday as part of the Chancellor’s Autumn Statement a loophole involving transferring the goodwill of the business of an LLP (Limited Liability Partnership) into a Limited Company with the same controlling persons has been closed with immediate effect (3rd December 2014).
