Perspectives · Company law and registers
What a PSC register is, and how it differs from the register of members
A UK company records its owners in two different ways. The register of members lists who holds its shares. The PSC information lists the people with significant control: the individuals who ultimately own or control it. Since 18 November 2025 the second is held at Companies House rather than in a register the company keeps itself. This perspective is general information, not legal advice.
Week 39, published 10 November 2026 · Company law and registers
The register of members
Who holds the shares
Section 113 of the Companies Act 2006 requires every company to keep a register of its members, with their names and addresses, the date each was registered as a member and the date anyone ceased to be one. For a company with a share capital it also records the shares each member holds.
The register of members is a legal record of title. If a holding company owns all the shares, the register names the holding company and stops there.
The PSC register
Who controls the company in the end
Companies House guidance describes a person with significant control as someone who owns or controls the company, sometimes called a beneficial owner. A PSC is usually anyone who holds more than 25% of the shares or voting rights, can appoint or remove a majority of the directors, or can otherwise influence or control the company.
The guidance tells companies to check their register of members for information on shareholders and voting rights. The two records start from the same facts, but they answer different questions: one records legal title to shares, the other records who owns or controls the company.
The change
From the company's own register to Companies House
Until 2025, companies kept their own PSC register under Part 21A of the Companies Act 2006. Legislation.gov.uk shows that the chapter containing that duty, including section 790M, was omitted from 18 November 2025 by the Economic Crime and Corporate Transparency Act 2023.
Companies must still identify their PSCs and tell Companies House who they are. Companies House guidance says changes must be reported within 14 days of confirming them, that the PSC information cannot be left blank, and that PSCs must now verify their identity and provide a Companies House personal code.
The practice
Keep the chain, not only the answer
In a group, shares are usually held through intermediate companies, so control of each subsidiary depends on the whole ownership chain. When a share transfer happens two levels up, the PSC position of companies below it may change. The register of members of each company in the chain is where that change first shows.
Groups that hold the chain in one place can see which companies a single transfer may affect, check each one, and report any change inside the 14 day window. Groups that hold it in separate spreadsheets usually find out at the next confirmation statement.
In Alethia
Ownership and control in one record
Alethia records shareholdings and ownership links between entities, and can read a UK company's PSC information from Companies House so you can compare it with your own record. Nothing read from the registry is saved until a person confirms it.
Questions
PSC registers, answered
Does a UK company still keep its own PSC register?
No. The duty to keep one was removed from 18 November 2025. The company must still identify its PSCs and give their details to Companies House, which holds the information.
Is a shareholder always a PSC?
No. A shareholder with 25% or less of the shares and voting rights, no power over the board and no other influence or control is usually not a PSC. The full Companies House guidance covers the more complex cases.
What if a company cannot identify a PSC?
It must still tell Companies House, by registering a statement explaining why there is no PSC or why their details have not been confirmed. The PSC information cannot be blank.
Hold the ownership chain in one place
Record shareholdings across the group, so you can see which companies a single transfer may affect.