Recent changes to Anti-Money Laundering legislation in the United Kingdom have affected the Persons with Significant Control (PSC) regime for all limited companies, some public companies, and now Scottish partnerships. The Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 replaces the previous legislation, The Money Laundering Regulations 2007.
While the legislation is fairly far reaching, the most important change for most UK businesses to keep in mind is that, going forward, ALL changes to a company’s PSC register must be reported to Companies House within 28 days of the change being made. Previously changes to PSC registers only had to be reported at the time of filing the annual Confirmation Statement.
Have questions about these recent changes, or about PSC requirements in general? The specialists at IBCF UK are here to help! Email us at email@example.com or fill out the form below and we will be in touch right away.