Company law · When something changes

A person with significant control changes

Companies Act 2006 Part 21A · 14 days, then 14 days

Part 21A of the Companies Act 2006 requires a company to keep information about the people who own or control it, its people with significant control. When a person becomes a PSC, stops being one, or their details change, the company has fourteen days to update its PSC information and then fourteen days to notify Companies House. A PSC is broadly a person who holds more than a quarter of the shares or voting rights, or who otherwise exercises significant control.

Failing to keep PSC information, or failing to notify a change within the time limit, is a criminal offence for the company and its officers. Providing false PSC information, or failing to respond to a PSC information notice, can draw an unlimited fine or a term of imprisonment. This is one of the harder duties for a small company, because ownership through other companies and trusts can be easy to misread.

A new PSC must verify their identity. That identity check is handled by the separate ECCTA 2023 system. See the ECCTA 2023 tool →

The People with Significant Control working file in the ComplianceSME Companies Act 2006 system takes you through who controls the company and how. It records the change, the date the PSC information was updated and the date Companies House was notified, and it tests the ownership against the control conditions. It asks you who holds what, one question at a time, then produces the evidence that both fourteen-day deadlines were met.

Everything beyond the Companies Act 2006 has its own system in the full register.