Skip to main content
Home / News and Insights / News / Corporate transparency: Companies House future plans regarding the PSC Register
24 April 2018

Corporate transparency: Companies House future plans regarding the PSC Register

As part of its business plan for 2018 and 2019, Companies House has outlined a number of steps that it would take to improve corporate transparency and PSC regime.

Companies House has announced that it will:

  • take steps to ensure the PSC records submitted by companies are correct and comply with the legal requirements by contacting those companies which it believes have misunderstood the requirements directly
  • pursue those companies which have not provided PSC information in their confirmation statement or that have not provided a statement of additional matters
  • if PSCs have been issued notices (requesting further information from PSCs) or restrictions (where PSCs have failed to provide the information requested), Companies House will follow up on those notices to ensure the information on the relevant company’s records is kept up to date
  • take steps to ensure that any complaint made about missing or incorrect PSC information is dealt with effectively and in a timely manner
  • develop ways of sharing information with law enforcement and government departments to support information being shared correctly and with a view to tackling economic crime

In view of the new requirement for overseas companies to register owned property in the UK, Companies House has also announced that it will work with the Department for Business, Energy and Industrial Strategy (BEIS) to develop a register of beneficial owners.

Companies House will also be assisting the government with its review of the effectiveness of the PSC register by gathering any necessary information that would assist with this review.

Related Articles

London and Cambridge Offices

London Westminster
50 Broadway, London
SW1H 0BL

Cambridge
51 Hills Road, Cambridge
CB2 1NT

Reading and Southampton Offices

Reading, The Anchorage
34 Bridge Street Berkshire
Reading RG1 2LU

Southampton
Grosvenor House, Grosvenor Square
Southampton SO15 2BE

Follow us

  • Pay my invoice
  • Lexcel
  • CYBER ESSENTIALS PLUS

© BDB Pitmans 2019. 50 Broadway, London, SW1H 0BL - T +44 (0)345 222 9222