From 6 April 2016, UK companies and Limited Liability Partnerships will be required to investigate “People with Significant Control” (PSCs) in them and “Relevant Legal Entities” (RLEs), and to keep a register of their details. This is part of the UK implementation of the G20 High Level Principles of Beneficial Ownership Transparency. The PSC register will have to be open for inspection (subject to certain protections) and information from it included in each company or LLP’s annual confirmation statement from 30 June 2016 (which replaces the submission of annual returns to Companies House).
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