How to Change the PSC (Person of Significant Control) Details

Managing a UK company requires more than just focusing on sales and growth; it involves a meticulous approach to statutory compliance. One of the most critical aspects of this is maintaining an accurate record of Persons of Significant Control (PSC). Whether a shareholder has sold their stake, a director has increased their voting power, or a PSC has simply moved house, the law requires you to update this information promptly. In this guide, you will learn exactly when a notification is triggered, the specific forms required by Companies House, and the strict timelines you must adhere to avoid legal penalties.

Quick Answer: To change PSC details, you must first update your company’s internal PSC Register within 14 days of the change. You then have a further 14 days to notify Companies House using the appropriate form (e.g., PSC04 for changes to existing details, or PSC01/PSC07 for appointments and removals). Failure to do so is a criminal offense.

📋 Understanding the PSC Register and Why It Matters

The PSC register was introduced in April 2016 to increase corporate transparency in the UK. It is designed to look through the corporate veil to see who actually owns or controls a company. This is essential for preventing money laundering and ensuring that the public and authorities know who is making the high-level decisions.

The Concept of Significant Control

A Person of Significant Control is typically an individual who meets one or more of the following conditions:

Holding more than 25% of the shares in the company.
Holding more than 25% of the voting rights.
Holding the right to appoint or remove the majority of the board of directors.
Having the right to exercise, or actually exercising, "significant influence or control" over the company.

Internal vs. Public Records

Every UK company must maintain two versions of this information. The first is an internal statutory register kept at the company’s registered office or a SAIL address. The second is the public record held at Companies House. When details change, both must be synchronized. You can learn more about general governance in our guide on director responsibilities.

Why Accuracy is Non-Negotiable

Providing false information or failing to keep the register up to date is not just a clerical error; it is a criminal offense. Both the company and its officers (directs and secretaries) can be prosecuted and fined. Furthermore, inaccurate PSC data can halt business transactions, as banks and investors often perform rigorous "Know Your Customer" (KYC) checks against the Companies House database.

🔍 Triggers: When Do You Need to Change PSC Details?

It is a common misconception that PSC details only need to be updated during the annual Confirmation Statement. In reality, any material change must be reported as it happens. Understanding these triggers is the first step toward compliance.

Changes to Personal Information

If an existing PSC changes their legal name (for example, through marriage or deed poll) or their usual residential address, the company must be notified. While residential addresses are not public, the "service address" is, and any change to where legal documents should be sent must be recorded.

Name Changes: Requires proof of the new legal name for internal records.
Nationality: If a PSC changes their citizenship status.
Service Address: The official correspondence address shown on the public register.

Shifts in Ownership Thresholds

The most common trigger is a change in shareholdings. If a shareholder who previously held 20% of the shares acquires another 10%, they cross the 25% threshold and must be added as a PSC. Conversely, if a PSC sells shares and drops below the 25% mark, their status must be updated or removed. You should review your share transfer procedures to ensure these events are captured.

Changes in "Nature of Control"

Sometimes a person’s personal details stay the same, but the *way* they control the company changes. For example, if a company adopts new Articles of Association that give a specific individual veto power over board decisions, that person may now meet the "significant influence" criteria even if they own zero shares.

⚡ The Step-by-Step Process to Notify Companies House

Once a change has been identified, the company must follow a specific legal sequence to ensure the update is valid. This process involves formal notification and the filing of specific statutory forms.

Step 1: Confirm the Change

Before updating any records, the company has a duty to verify the information. You should send a formal notice to the PSC asking them to confirm the new details. The PSC has a legal obligation to respond to this request within one month.

Document the date the change occurred.
Collect all necessary data (new address, date of change, etc.).
Ensure the PSC has signed off on the accuracy of the new information.

Step 2: Update the Internal Register

The company’s internal PSC register must be updated within 14 days of the change being confirmed. This register must be available for public inspection upon request. Many companies use digital secretarial software to manage this, but a physical ledger is also acceptable.

Step 3: Filing the Correct Forms

After updating the internal register, you have another 14 days to notify Companies House. The form you use depends on the nature of the update:

Form PSC01: To notify of a new individual PSC.
Form PSC04: To change the details of an existing individual PSC.
Form PSC07: To notify that a person has ceased to be a PSC.
Form PSC08: To notify of a change in a Relevant Legal Entity (RLE) — used when a company owns another company.

⚠️ Deadlines and Legal Consequences of Non-Compliance

The UK government takes PSC transparency very seriously. The "14+14" rule is the gold standard for compliance. If you miss these windows, the consequences can be severe for both the business and its reputation.

The 14-Day Windows

To recap, you have 14 days from the date of the change to update your internal records, and then a further 14 days from the date you updated those records to notify Companies House. In total, the information should reach the public registrar no later than 28 days after the event took place.

Sanctions for Late Filing

Failure to comply with PSC requirements is a criminal offense. The company and every officer in default can face:

Unlimited fines issued by the courts.
Up to two years in prison for serious or fraudulent non-disclosure.
Striking Off: Companies House may begin the process of dissolving the company if they believe it is no longer compliant with statutory filings.

        Did You Know? Since 2017, UK companies have been unable to simply say "we don't have a PSC." If you are still in the process of identifying your PSC, you must file a specific "statement of ongoing steps" to show you are actively trying to comply with the law.
    

💡 Best Practices for PSC Management

Keeping track of PSCs can become complex, especially in companies with multiple shareholders or corporate layers. Implementing a system for regular review can save you from the stress of last-minute filings.

Regular Audits

Perform a quarterly check of your share register. Compare the shareholdings against your PSC filings to ensure no thresholds have been crossed through minor transfers or share buybacks. If you need help managing these documents, explore our secretarial support guides.

Educate Your Shareholders

Ensure that all shareholders and "Relevant Legal Entities" (RLEs) understand their duty to inform the company of any changes. You might include a clause in your Shareholders' Agreement that mandates immediate notification of address or name changes.

Use Professional Support

Many business owners find the technicality of PSC01-PSC09 forms confusing. Utilizing a professional formation and secretarial service ensures that forms are filled out correctly the first time, preventing "rejections" from Companies House which can lead to missed deadlines.

Double-check the "Nature of Control" checkboxes.
Ensure dates are consistent across all filings.
Maintain a clear paper trail of all "Confirmations of Details" sent to PSCs.

✅ Action Steps: How to Update Your Details Today

If you have realized that your PSC information is out of date, follow these immediate steps to rectify the situation and bring your company back into good standing.

Identify the Change: Pinpoint exactly what changed and the date the event occurred (e.g., the date a share transfer form was signed).
Verify the Data: Contact the PSC via email or letter to confirm their new details. Keep a copy of their response for your records.
Update the Internal Register: Log into your company’s secretarial software or update your physical statutory book immediately.
File with Companies House: Use the WebFiling service or a professional agent to submit the relevant PSC form (PSC01, PSC04, or PSC07).
Confirm Acceptance: Ensure you receive a notification from Companies House that the filing has been accepted and check the public record 24 hours later.

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