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Persons with Significant Control (PSC)& Confirmation Statement replaces AR01

Article ID
ias-12237
Article Name
Persons with Significant Control (PSC)& Confirmation Statement replaces AR01
Created Date
23rd February 2016
Product
IRIS Company Secretarial
Problem
The Small Business, Enterprise and Employment Act will see the introduction of a new register of Persons with Significant Control (PSC) and the Confirmation Statement which will replace the Annual Return. How and when is IRIS implementing these changes? Companies House are using a phased approach to implement these changes and we will include the necessary functionality to record details of PSC and Confirmation Statements in our April and June releases both in good time to ensure you have everything you need to remain compliant.
Resolution
April 2016 release includes:
  1. Creation and generation of a Persons of Significant Control (PSC) register – very similar to the Director’s register with the addition of the ‘nature of control’
  2. The ability to pick from directors, secretaries, shareholders and anyone from the non-client list when creating a Person of Significant Control (PSC) register.
The Person of Significant Control (PSC) register can be created by: From the IRIS Company Secretarial main menu Select:-Edit | People with Significant Control Select – ‘New’ to enter People with Significant Control Select – ‘No PSC’ if there are no People with Significant Control Our June 2016 release includes:
  1. Filing of Persons of Significant Control (PSC) registers to Companies House
  2. Filing of the Confirmation Statement to Companies House, in preparation for the need to file this information from 30th June 2016
  3. Adding or changing Persons of Significant Control (PSC) will also trigger the necessary forms in the same way as adding or changing directors
For more information on The Small Business, Enterprise and Employment Act Click Here. For more information on PSC’s and Confirmation Statements Click here

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