All UK limited companies must have at least one director, one shareholder and one person with significant control (PSC). All these roles can be taken by one person, however - as well being able to appoint other people, you can also appoint other companies in roles too.
This month sees two important updates to the UK limited company formation process; the addition of a ‘People with Significant Control’ (PSC) section and the addition of a 'Standard Industrial Classification' (SIC) section. Let’s take a look at what this means for you when forming a company.
Since April 2016 all UK limited companies and limited liability partnerships should be keeping a Register of People with Significant Control (PSC) in the company. This information should then be included in the Confirmation Statement - which has now replaced the Annual Return.