How to Update Your PSC Information

If the ownership or control of your UK company changes, keeping your People with Significant Control (PSC) information accurate is an important Companies House responsibility. A PSC is generally an individual who owns or controls a significant part of a company. This can include someone who holds more than 25% of the shares or voting rights, someone who can appoint or remove a majority of the directors, or someone who exercises significant influence or control over the company.

PSC information is not something a company should simply review once a year. When relevant information changes, the company must update Companies House within the required timeframe. This guide explains when PSC information needs to be updated, what information can change, how to make the update, what happens when a PSC leaves the company, and some of the issues founders should watch for.

What Is a PSC?

PSC stands for Person with Significant Control. The PSC regime is designed to make ownership and control of UK companies more transparent. For many small businesses, the PSC will be the founder or principal shareholder. However, the person who controls a company is not always the same person who manages it day to day. Someone may be a PSC if they:

• Hold more than 25% of the company's shares.
• Hold more than 25% of the company's voting rights.
• Have the right to appoint or remove a majority of the company's board of directors.
• Otherwise exercise, or have the right to exercise, significant influence or control over the company.
• In certain structures, exercise control through a trust or another legal arrangement.

For example, imagine a startup has three shareholders:

• Founder A owns 60%.
• Founder B owns 25%.
• Founder C owns 15%.

Founder A would normally be a PSC because they hold more than 25% of the shares. Founder B would not automatically qualify based solely on a 25% shareholding because the threshold is more than 25%. However, other voting or control arrangements could change the analysis. This is why PSC status should be assessed based on the company's actual ownership and control structure rather than simply assuming that every major shareholder is a PSC.

When Do You Need to Update PSC Information?

You need to tell Companies House when information about your company's PSCs changes. This can include changes to:

• A PSC's personal details.
• Their address.
• Their nationality or other registered information.
• Their nature of control.
• The percentage or type of control they have.
• Whether they remain a PSC.
• The identity of the person who controls the company.

Companies House guidance states that changes to PSC information must generally be reported within 14 days of confirming the change. That deadline is important because PSC information is part of the company's statutory information at Companies House.

Example: A PSC Changes Address

Suppose the founder of a UK limited company moves from one residential address to another. If that address is recorded as part of their PSC information, the company should not wait until its next confirmation statement to deal with the change. The PSC information should be updated within the applicable 14-day period.

This distinction matters because PSC changes are not simply something to bundle into an annual filing. Companies House specifically says that PSC information should be updated when changes occur.

What Information Can Be Changed?

The exact information that needs updating depends on what has changed. A PSC's recorded information can include details such as their name, date of birth, nationality, country of residence, and service or correspondence information, depending on the circumstances.

The nature of control is also important. For example, a founder might initially be registered because they own more than 25% of the company's shares. Later, the company could restructure its shareholding or voting rights. The founder's PSC information may then need to be changed to accurately reflect the company's new ownership or control structure. In other situations, a person may cease to be a PSC altogether. The key principle is simple: the Companies House record should accurately reflect the company's current ownership and control position.

How to Update Your PSC Information

For many companies, the simplest way to report a PSC change is through the Companies House online service. Before starting, make sure you have the relevant company information and details of the change available.

Step 1: Identify What Has Changed

First, establish exactly what has changed. Do not start by simply editing the information on Companies House. Determine whether the change relates to:

• Personal information.
• Ownership.
• Voting rights.
• Control.
• A PSC joining the company.
• A PSC leaving the company.
• A change in the way control is exercised.

This prevents a common mistake: changing a person's personal details when the real issue is that their nature of control has changed.

Step 2: Check the Company's Ownership Structure

If the change involves shares or voting rights, review the company's share structure and relevant corporate records. For example, if a founder transfers shares to another shareholder, the resulting ownership percentages may change who qualifies as a PSC. Remember that PSC status is not determined solely by the number of shareholders. Voting rights and other forms of control can also matter.

Step 3: Sign In to the Companies House Service

Companies House provides online services for reporting company changes. The government guidance confirms that companies can use the Companies House online service to report changes, although some changes may also have paper filing options. For a straightforward change of details for an individual PSC, Companies House also provides the PSC04 filing route. The official guidance recommends using the online service where possible because paper forms can take longer to process.

Step 4: Enter the Correct Information

Enter the updated information carefully. A small error in a PSC's name, date of birth, nationality or other information can create problems later, particularly where identity verification or matching information becomes relevant. If the change concerns the person's control over the company, make sure the relevant nature of control is accurately reflected rather than treating the filing as a simple address update.

Step 5: Submit the Change

Review the information before submitting it. Once the filing has been submitted, keep evidence of the submission and check the company's Companies House record afterwards. For important ownership changes, it is sensible to compare the updated public record with the company's internal records so that the two remain consistent.

What If a PSC Leaves the Company?

A PSC does not necessarily remain a PSC permanently. For example, a founder may sell their shares, transfer their interest, or otherwise stop exercising significant control over the company. When someone ceases to be a PSC, the company needs to update its records and notify Companies House. Companies House guidance states that a company must report changes relating to PSCs and keep the information current.

The situation can become more complicated when the departing PSC is replaced by another person who now meets the conditions for significant control. In that case, the company should not simply remove the former PSC. It should also determine whether someone else has become a PSC and make the appropriate filing.

A Practical Example

Suppose a UK ecommerce company is owned as follows:

Before the transaction

• Sarah — 70%
• Daniel — 30%

Both may have significant control depending on the company's arrangements. Sarah then sells her entire 70% interest to Daniel.

After the transaction

• Daniel — 100%

Sarah may cease to be a PSC, while Daniel's control position changes significantly. The company therefore needs to update its PSC information to reflect the new reality. This is more than an administrative change. It is a change in the company's ownership and control structure and should be handled alongside the company's other corporate records.

What About a Change to a PSC's Address?

A change of address is one of the simpler PSC updates. If a PSC's relevant personal information has changed, the company should update the Companies House record within the applicable deadline rather than waiting for its next annual filing.

This is particularly relevant for founders who operate internationally. For example, a non-UK resident founder might move from an address in the UAE to an address in Singapore while continuing to own and control their UK company. Their company information may need to be updated to reflect the relevant change.

International founders should also be careful not to confuse a PSC's personal information with the company's registered office address or a director's service address. These are separate areas of company information and can have different filing requirements.

PSC Information and Companies House Identity Verification

Companies House has introduced mandatory identity verification requirements as part of reforms to improve the accuracy and reliability of company information. PSCs have a Companies House identity verification process and personal code requirements. The timing depends on the individual's circumstances, including whether they are also a director of the company.

This creates an important practical point for founders: updating PSC information and completing identity verification are related compliance responsibilities, but they are not necessarily the same filing. If a PSC has problems with a mismatch between their identity verification information and their Companies House record, the issue should be investigated rather than assuming that the information can simply be ignored. Companies House says that identity verification information is checked against the details it holds.

What Happens If PSC Information Is Wrong?

Incorrect PSC information should be corrected. Companies House guidance makes clear that companies have obligations to maintain accurate PSC information, and failure to comply can have legal consequences. The current statutory guidance states that failure to provide accurate PSC information without a reasonable excuse can constitute a criminal offence and may result in penalties, including a fine or imprisonment.

That does not mean every mistake will automatically lead to a serious penalty. The important lesson for directors and founders is that PSC information should be treated as a statutory responsibility rather than an optional profile update. If you discover an error, address it promptly. For complex ownership disputes or unusual control arrangements, professional legal or corporate advice may be appropriate.

Common PSC Update Mistakes to Avoid

Waiting for the Confirmation Statement

One of the most common misunderstandings is assuming that PSC changes only need to be reported with the company's annual confirmation statement. They do not. PSC changes generally need to be reported when they occur, within the relevant 14-day period.

Updating the Wrong Information

A change in shareholding is not necessarily just a change to a PSC's personal details. If ownership or voting rights have changed, reconsider the company's entire PSC position.

Forgetting About a New PSC

When shares or control are transferred, companies sometimes focus on removing the outgoing shareholder and overlook the person who has gained control. Always reassess who qualifies as a PSC after an ownership change.

Treating Companies House as the Only Record

Your public Companies House information should align with your internal company records. Keep relevant share registers, resolutions, share transfer documentation and other corporate records properly maintained.

Assuming Identity Verification Fixes Incorrect Information

Identity verification is designed to verify a person's identity. It does not remove the company's responsibility to maintain accurate PSC information. If there is a discrepancy, investigate and correct the underlying information.

How Global Founders Can Stay on Top of PSC Compliance

For international founders, UK company administration can become difficult when the owner lives outside the UK. A founder might have a UK company but live in Nigeria, Canada, the UAE, Singapore or another country. They may also have multiple shareholders, overseas investors and cross-border banking arrangements. A practical approach is to maintain a simple compliance calendar covering:

• PSC changes.
• Director changes.
• Confirmation statement deadlines.
• Annual accounts.
• Corporation tax obligations.
• Companies House identity verification requirements.
• Registered office correspondence.
• Other company-specific filing obligations.

This is one reason platforms such as IncorpUK can be useful for international founders. IncorpUK combines UK company formation with company management resources, official mail support, compliance guidance, banking and payment gateway guidance, and AI-powered tools designed to help founders understand company administration from one platform. Its AI compliance tools should be viewed as practical guidance and reminder support rather than a replacement for professional legal or accounting advice.

Frequently Asked Questions

How long do I have to update PSC information?

In general, Companies House requires changes to PSC information to be reported within 14 days of confirming the change.

Can I update PSC information online?

Yes. Companies House provides an online service for reporting company changes, including PSC information. For changes to an individual's PSC details, Companies House also provides the PSC04 filing route.

Do I need to update PSC information every year?

No. PSC information should be updated when relevant information changes. It should not simply be left until the company's annual confirmation statement.

What happens if a PSC changes address?

If the address is part of the PSC information recorded by Companies House, the company should update the relevant information within the applicable 14-day period.

What happens if a shareholder becomes a PSC?

The company should determine whether the shareholder meets one or more PSC conditions and, if so, provide the required information to Companies House within the applicable deadline.

What if a PSC stops controlling the company?

If someone ceases to meet the conditions for being a PSC, the company should update its PSC information to reflect that change. It should also reassess whether another individual has become a PSC.

Does a PSC have to verify their identity?

PSC identity verification requirements are now part of the Companies House regime. The timing and process depend on the PSC's circumstances. A PSC will receive or obtain a personal code through the identity verification process, which is then linked to their role.

Can a non-UK resident update their PSC information?

Yes. Being resident outside the UK does not, by itself, prevent someone from being a PSC of a UK company or from having their information updated. Non-UK founders should make sure their information is accurate and comply with the applicable Companies House requirements.

What if my PSC information is incorrect?

Correct it as soon as possible. Accurate PSC information is a statutory responsibility, and knowingly leaving incorrect information unresolved can create compliance problems.

Conclusion

Updating PSC information is a routine but important responsibility for UK company directors and founders. The process becomes much easier when you first identify what actually changed: personal information, share ownership, voting rights, significant influence, or the identity of the person controlling the company.

From there, check the company's ownership structure, use the appropriate Companies House filing route, submit the change within the required timeframe, and verify that the public record accurately reflects the company's current position. For global founders, keeping PSC information current is particularly important because managing a UK company remotely can involve multiple administrative responsibilities across different jurisdictions.

The simplest rule to remember is this: when the people who own or control your company change, or their relevant information changes, do not wait for the next annual filing. Review the PSC position and update Companies House promptly. For complex ownership structures, disputed control, trusts or unusual arrangements, consider obtaining independent professional advice rather than relying solely on a standard online filing process.