Across the UK and increasingly globally, regulators require businesses to identify and disclose who ultimately owns and controls them. For complex structures, getting beneficial ownership right is essential.

The UK PSC Register

Every UK company and LLP must maintain a Register of People with Significant Control (PSC) and file this information at Companies House.

A PSC is someone who holds more than 25% of shares or voting rights, can appoint or remove a majority of the board, exercises significant influence or control, or holds more than 25% of surplus assets on a winding up.

Where the PSC is a legal entity, the chain must be followed until the natural person at the top is identified.

Why It Matters

Failure to file accurate PSC information is a criminal offence. It also creates practical problems with banking, investment, M&A due diligence, and regulatory compliance.

Common Errors

Common mistakes include not updating the register after changes, naming an immediate parent company instead of the ultimate beneficial owner, and ignoring significant influence or control beyond shareholding.

The Global Trend Towards Transparency

Beneficial ownership regimes are expanding globally. The UK PSC register, EU AML rules, the US Corporate Transparency Act, and UAE UBO requirements all point in the same direction.

Keeping Records Clean

The challenge is maintaining accurate records as structures evolve. TrueHolder’s Command layer exists to provide a live, auditable record of who owns what across the entire group.

Across the UK and increasingly globally, regulators require businesses to identify and disclose who ultimately owns and controls them. For complex structures, getting beneficial ownership right is essential.

The UK PSC Register

Every UK company and LLP must maintain a Register of People with Significant Control (PSC) and file this information at Companies House.

A PSC is someone who holds more than 25% of shares or voting rights, can appoint or remove a majority of the board, exercises significant influence or control, or holds more than 25% of surplus assets on a winding up.

Where the PSC is a legal entity, the chain must be followed until the natural person at the top is identified.

Why It Matters

Failure to file accurate PSC information is a criminal offence. It also creates practical problems with banking, investment, M&A due diligence, and regulatory compliance.

Common Errors

Common mistakes include not updating the register after changes, naming an immediate parent company instead of the ultimate beneficial owner, and ignoring significant influence or control beyond shareholding.

The Global Trend Towards Transparency

Beneficial ownership regimes are expanding globally. The UK PSC register, EU AML rules, the US Corporate Transparency Act, and UAE UBO requirements all point in the same direction.

Keeping Records Clean

The challenge is maintaining accurate records as structures evolve. TrueHolder’s Command layer exists to provide a live, auditable record of who owns what across the entire group.