1 June 2017 is the deadline to bring the Fourth Money Laundering Directive (MLD4) into UK law. Although in practical terms this has been largely already implemented through the introduction of the PSC register, further changes are required for a company to disclose their beneficial owners. Currently, any changes to PSCs must be notified via the Confirmation Statement. The additional headache has been if there have been multiple changes to the PSCs (through share transfers for instance) these must be notified on individual Confirmation Statements.
Companies House have announced that from 26 June 2017, any changes to the PSCs on a company must be recorded within the PSC register and notified on a new set of forms (PCS01-PSC09).
- Changes must be recorded within the companies PSC register within 14 days of the change
- The change must be filed with Companies House within another 14 days
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