People with Significant Control (PSC)

Overview

A Person with Significant Control (PSC) is someone or multiple individuals who own or have ownership over a company.

Most People with Significant Control are those who hold:

More than 25% of shares in the company
More than 25% of voting rights in the company
The right to appoint or remove the majority of the board of directors

This article will cover how to record a Person with Significant Control, and how this contact's identity can be verified by submitting a VS01 with Companies House through CAS 360.

How to nominate a PSC

Click People with Significant Control +

Select Add People with Significant Control

To view or reprepare previously recorded dividends, you can select View People with Significant Control

Instructions

CAS 360 will display the People with Significant Control screen.

Contact

Field	Explaination
Name	Select the contact to become a PSC for the company.
Question: Is the service address the same as the Company's Registered Office Address?	Select Yes if the PSC’s service address is the same as the company’s registered office. Select No to enter or choose a different address. A drop-down will appear, allowing you to select an existing address or create a new one. The service address is the official contact address shown on the Companies House register.
Status	To appoint a PSC, select Appoint To dismiss a PSC, select Ceased
Appointed Date	Select the date that the contact is becoming a PSC
Confirmation Entry Date	Select the date the company had confirmation of this person’s status as a PSC and all of their details.
Date Ceased	Select the date that the PSC is leaving the register. This option will only appear if the Status is selected to be Ceased.
Notes	You can just enter any relevant notes.

Nature of Control

Choose the Nature of Control that best matches the PSC's level of control, or select multiple options if relevant.

Nature of Control Individual

The individual holds, directly or indirectly 25%-50% shares of the company
The individual holds, directly or indirectly 50%-75% shares of the company
The individual holds, directly or indirectly greater than 75% shares of the company
The individual holds, directly or indirectly 25%-50% voting rights of the company
The individual holds, directly or indirectly 50%-75% voting rights of the company
The individual holds, directly or indirectly greater than 75% voting rights of the company
Ownership or the right to appoint or remove the majority of the board of Directors
Has the right to exercise or actually exercise significant control or influence over the company

Nature of Control Company

The Company holds, directly or indirectly 25%-50% shares of the company
The Company holds, directly or indirectly 50%-75% shares of the company
The Company holds, directly or indirectly greater than 75% shares of the company
The Company holds, directly or indirectly 25%-50% voting rights of the company
The Company holds, directly or indirectly 50%-75% voting rights of the company
The Company holds, directly or indirectly greater than 75% voting rights of the company
Ownership or the right to appoint or remove the majority of the board of Directors
Has the right to exercise or actually exercise significant control or influence over the company

Nature of Control Trust

The trust holds, directly or indirectly 25%-50% shares of the company
The trust holds, directly or indirectly 50%-75% shares of the company
The trust holds, directly or indirectly greater than 75% shares of the company
The trust holds, directly or indirectly 25%-50% voting rights of the company
The trust holds, directly or indirectly 50%-75% voting rights of the company
The trust holds, directly or indirectly greater than 75% voting rights of the company
Ownership or the right to appoint or remove the majority of the board of Directors
Has the right to exercise or actually exercise significant control or influence over the company

Documents Prepared

Document Type	Options
Form PSC01 - Notice of Person of Significant Control	Document date - Input the date of the document. Apply this date to all documents. Presenter - Select a presenter. Form Signatory - Select the signatory.
Form PSC07 - Notice of Ceasing to be a Person with Significant Control	Document date - Input the date of the document. Apply this date to all documents. Presenter - Select a presenter. Form Signatory - Select the signatory.
Register of Significant Controller	Show Histrocial Data Document date - Input the date of the document. Apply this date to all documents. Document Template - Change the template used for the resolution. Export to Word

How to Verify a PSC - VS01

Once a PSC has been added to CAS 360, you can verify this contact by following the prompts to submit a VS01 to the Companies House.

From the Members screen, select View People with Significant Control from the PSC dropdown menu:
From the list of recorded PSC's, find the individual to be verified. Then, click the Verify button:
Fill out the details for this PSC verification, including the Companies House Personal Code.
If the is no matching verified Companies House Name, select the Reason from the dropdown menu.

Note: the Save & Prepare option is only available when identity verification details have not been provided to Companies House.
Completing Step 3 with the first question toggled to Yes will update the verification status in the View People with Significant Control popup window: