UK DBT issues updated statutory guidance on People with Significant Control to help companies identify and report individuals or entities with significant influence, ensure BO transparency, and comply with the Companies Act 2006

It defines the criteria for determining significant control, including the right to exercise, or actually exercising, power over key company decisions, such as appointing directors, influencing financial policies, or controlling voting rights. The guidance offers practical examples to help companies accurately decide who must be recorded on the PSC register and reported to Companies House, ensuring consistency and compliance across firms. It also clarifies situations where certain roles or relationships…