PSC Verification Services UK

Legal-Authority Compliance for Persons with Significant Control (PSC)

Audit Consulting Group provides advanced PSC verification services for UK companies requiring full compliance with the Companies Act 2006 (Part 21A) and Companies House disclosure requirements.

PSC verification is not a clerical exercise. It is a statutory obligation tied directly to corporate transparency, anti-money laundering objectives and director accountability.

If your company requires:

• PSC verification UK

• PSC register review

• update PSC Companies House

• beneficial owner verification UK

• RLE vs PSC assessment

• PSC compliance audit

Our structured legal and compliance framework ensures regulatory accuracy and director protection.

The Legal Foundation of PSC Requirements

PSC regulations were introduced under the Small Business, Enterprise and Employment Act 2015 and incorporated into Part 21A of the Companies Act 2006.

Every UK company (unless exempt) must:

• Identify Persons with Significant Control

• Maintain an internal PSC register

• Confirm and verify PSC information

• File PSC data with Companies House

• Update changes within statutory timeframes

PSC rules apply to:

• Private limited companies

• Public limited companies (with specific conditions)

• LLPs

• Certain Scottish partnerships

Failure to comply constitutes a criminal offence under UK law.

What Is a Person with Significant Control (PSC)?

A PSC is an individual who meets one or more of the following statutory conditions:

1. Holds more than 25% of shares

2. Holds more than 25% of voting rights

3. Has the right to appoint or remove a majority of directors

4. Exercises, or has the right to exercise, significant influence or control

5. Controls a trust or firm that itself meets PSC conditions

These thresholds require legal interpretation in complex ownership structures.

Relevant Legal Entity (RLE) vs PSC – Critical Distinction

Where a corporate entity meets PSC conditions and is itself subject to disclosure requirements, it may qualify as a Relevant Legal Entity (RLE).

The company must:

• Record the RLE in its PSC register

• Verify that the RLE meets disclosure criteria

• Confirm that no further natural person must be identified

Failure to correctly distinguish between PSC and RLE is a frequent compliance error.

We provide structured RLE vs PSC analysis to ensure lawful classification.

Statutory Deadlines – What Directors Must Know

PSC compliance includes strict timeframes:

• Internal PSC register must be updated within 14 days of becoming aware of a change

• Companies House must be notified within a further 14 days

• Confirmation Statement must reflect accurate PSC data annually

Late PSC filing penalties can escalate and may trigger compliance review.

Ignorance of a change is not a defence if reasonable steps were not taken to identify control.

“Reasonable Steps” Requirement

Directors are legally required to take reasonable steps to identify PSCs.

This includes:

• Reviewing share registers

• Examining shareholder agreements

• Investigating indirect ownership

• Issuing statutory notices requesting information

• Documenting efforts to confirm control

Failure to demonstrate reasonable steps may result in personal liability.

Complex Ownership Structures – Where Professional PSC Verification Is Essential

Indirect Ownership Chains

Where shares are held through:

• Holding companies

• Multi-layered corporate chains

• Overseas entities

PSC verification requires tracing ultimate beneficial ownership to natural persons unless a qualifying RLE exists.

Trust-Controlled Shares

Where a trust holds shares, PSC identification requires reviewing:

• Trustees

• Beneficiaries

• Settlor powers

• Protector rights

• Influence mechanisms

Trust structures often conceal indirect control requiring technical review.

Significant Influence Without Majority Ownership

PSC status may arise without majority shareholding.

Examples:

• Veto rights in shareholder agreements

• Control through financing covenants

• Rights to direct strategic decisions

• Informal dominant influence

Determining significant influence requires interpretation aligned with statutory guidance.

Enforcement & Legal Consequences

Failure to comply with PSC obligations may result in:

• Criminal offences by the company and its officers

• Fines

• Daily default penalties

• Director disqualification proceedings

• Public record correction orders

• Increased scrutiny under Companies House reform

Companies House reforms have strengthened verification powers and identity checks.

PSC data accuracy is increasingly monitored.

Identity Verification Reforms & PSC Compliance

Companies House reform initiatives introduce:

• Identity verification for directors and PSCs

• Enhanced filing scrutiny

• Cross-checking of beneficial ownership data

• Increased enforcement capacity

Companies that fail to maintain accurate PSC data may face heightened review.

Proactive PSC verification ensures readiness for evolving regulatory frameworks.

PSC Verification in Mergers, Acquisitions & Investment

During due diligence, buyers and investors review:

• PSC register accuracy

• Historical changes

• Ownership transparency

• Confirmation Statement compliance

• Beneficial ownership clarity

Inaccurate PSC records can delay or jeopardise transactions.

We conduct structured PSC compliance audits prior to funding or sale.

Banking & AML Implications

Financial institutions conduct beneficial owner verification aligned with AML regulations.

Inconsistent PSC data may lead to:

• Delayed bank onboarding

• Enhanced due diligence

• Account restrictions

• Funding rejections

Professional PSC verification improves institutional trust.

Practical Compliance Failures We Commonly Identify

From experience, frequent PSC issues include:

• Outdated PSC registers after share transfer

• Failure to recognise indirect ownership

• Incorrect RLE classification

• Misinterpretation of significant influence

• Missed statutory filing deadlines

• Failure to issue formal PSC notices

These issues are preventable with structured oversight.

PSC Compliance Checklist – Director-Level Framework

Ensure your company has:

• Completed ownership mapping

• Reviewed shareholder agreements

• Assessed trusts and corporate chains

• Identified all qualifying PSCs or RLEs

• Updated internal PSC register

• Filed updates with Companies House within deadlines

• Documented reasonable steps taken

• Reviewed compliance quarterly

PSC verification is ongoing governance.

Benefits of Professional PSC Verification

Working with Audit Consulting Group provides:

• Legal clarity in complex structures

• Reduced director liability risk

• Accurate Companies House filings

• Structured audit trail documentation

• Investor and banking confidence

• Ongoing compliance monitoring

Professional PSC verification protects governance integrity.

Extended FAQ – Advanced PSC Questions

What if no individual qualifies as PSC?

The company must file a “no registrable person” statement where appropriate.

Does holding exactly 25% qualify?

No. The threshold is more than 25%.

Can a minority shareholder still be a PSC?

Yes, if they exercise significant influence or control.

What if a PSC fails to respond?

Statutory notice procedures must be followed, potentially including restrictions on shares.

Do dormant companies require PSC compliance?

Yes, unless legally exempt.

Does PSC status change automatically when shares are transferred?

Yes, if thresholds are crossed or control rights altered.

Nationwide PSC Verification Services

We support companies across:

London
Manchester
Birmingham
Leeds
Bristol
Liverpool
Sheffield
Nottingham
Edinburgh
Glasgow

Our secure remote compliance systems ensure accurate handling of ownership documentation nationwide.

Why Audit Consulting Group Is a Leading PSC Verification Provider

We combine:

• Corporate governance expertise

• Technical statutory interpretation

• Practical compliance management

• Companies House filing precision

• Ongoing monitoring systems

PSC verification is not administrative data entry — it is regulated corporate transparency.

Secure Your PSC Compliance Today

PSC verification is a statutory obligation under UK law.

Audit Consulting Group provides comprehensive PSC verification services ensuring:

• Accurate identification of Persons with Significant Control

• Correct classification of RLEs

• Timely Companies House updates

• Documented reasonable steps

• Director-level compliance protection

• Long-term governance alignment

If your company requires professional PSC verification services in the UK, request a structured compliance review today.

Ensure transparency.
Ensure legal accuracy.
Ensure regulatory protection.