Posted Uncategorized byin
From April this year, Companies have to keep a register of people with significant control and report them on the new Companies House annual return now called the annual Confirmation Statement.
What does a company need to do?
An officer of the company is required to:
- Identify the people with significant control (PSCs) over the company and confirm their information (see paragraph 9);
- Record the details of the PSC on the company’s own PSC register;
- Provide this information to Companies House as part of the annual Confirmation Statement (formerly the Annual Return); and
- Update the information on the company’s own PSC register when it changes, and update the information at Companies House when the next Confirmation Statement is made.
It’s hard to see why successive governments think that heaping more and more red tape on small companies and taxing them and their owners out of existence is somehow a good thing. It’s also somewhat amusing that they keep renaming things as though that adds any value to anyone (but themselves). Cynical? You bet.
If you would like to read the chapter and verse from the government, click here.