What Is a person with significant control?
A person with significant control (PSC) is someone who owns or exercises significant influence over a company. They can also be referred to as a “beneficial owner”.
Every UK company is required to identify its PSCs and register their details with Companies House. A company can have one
Meaning of “bona vacantia”
Bona vacantia is Latin term meaning “ownerless goods”. The bodies that deal with bona vacantia claims vary across the United Kingdom, but they all ultimately represent the Crown.
Under company law, when a company is dissolved, any remaining rights or property automatically pass to the
Company information in the public domain
Did you know you can monitor any UK company for free and get email alerts when key details change, which can help protect your own business from unexpected or unauthorised filings?
A significant amount of information about companies is available in the public domain from Companies House. Companies
Company Voluntary Arrangements
A Company Voluntary Arrangement (also known as a CVA) is a special arrangement that allows a company with debt problems or that is insolvent to reach a voluntary agreement to pay its business creditors over a fixed period of time.
The arrangement is similar to the Individual Voluntary Arrangement
Why ID verification is supposedly good for business
Last week, we covered the new requirement for directors and persons with significant control (PSCs) to verify their identities from 18 November 2025. This process will be rolled out over 12 months, with Companies House reaching out directly to companies, providing guidance on what actions need to be
Have you verified your ID at Companies House?
From 18 November 2025, all company directors and people with significant control (PSCs) will be legally required to verify their identity at Companies House. This verification is being phased in over 12 months and Companies House is contacting companies directly with guidance regarding what needs to
16 years old – the minimum age for a company director
Thinking of starting a company at 16? Know the rules, risks and responsibilities before you take the leap.
The Companies Act 2006 does not set a minimum age for shareholders, meaning even minors can hold shares unless a company’s articles of association explicitly state otherwise. However, the
When dividends cannot be paid
Under the Companies Act 2006, dividends can only be paid from realised profits, never from capital, no matter what a company’s Articles of Association say.
Dividends can only be paid by a company out of profits available for distribution, not from capital, even if the company’s Articles of
Company director disqualification
Company directors have a legal duty to act responsibly and in the best interests of their business. If a director fails to meet these responsibilities, they can face disqualification from acting as a company director for up to 15 years.
Disqualification can result from ‘unfit conduct,’ which
HMRC to increase anti-money laundering fees
Fit and proper test fee to jump from £150 to £700 under HMRC’s proposed AML supervision changes
Many businesses are monitored by the Financial Conduct Authority (FCA) or certain professional bodies for Anti-Money Laundering (AML) purposes. However, HMRC is responsible for supervising more than