Need help going limited?

Chat to an advisor on our main site

Visit crunch.co.uk

What is a PSC

A Person of Significant Control (PSC) is an individual who meets one or more of the following conditions in relation to your company:

1. Directly or indirectly holding more than 25% of the shares

2. Directly or indirectly holding more than 25% of the voting rights

3. Directly or indirectly holding the right to appoint or remove a majority of directors

4. Otherwise having the right to exercise, or actually exercising, significant influence or control

5. Having the right to exercise, or actually exercising, significant influence or control over the activities of a trust or firm which is not a legal entity, but would itself satisfy any of the first four conditions if it were an individual

You can find more guidance on what a PSC is classified as and what details need to be recorded in the PSC Guidance for Companies, LLPs, and SEs document, published by the Department for Innovation & Skills. We recommend you pay particular attention to chapters 1–6.

If in any doubt, contact your accountant for advice.