Congratulations to Lisa Tagg who has recently qualified as a Chartered Legal Executive . Having gained a First Class Honours Degree in Law and a Masters in Medical Law from the University of Kent, Lisa has gained experience in various areas of...
Every UK company is required to identify the people who are 'persons with significant control' (PSCs). Essentially, PSCs are the people who own or have significant control over the company. Their details must be lodged with Companies House. Surprisingly, although the relevant requirement came in in June 2016, more than 57,000 British companies have not yet identified their beneficial owners.
If Companies House decides to enforce the requirement, the results could be dire for directors who fail to comply as it is an imprisonable offence.
The GOV.UK website provides information on how to identify the PSCs in your company.