Can you back date an entry on a PSC register?

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I have taken on a limited company which has 2 directors and they both have equal shareholding.  However, the PSC register only shows one of the shareholders and the share control is more than 50% but less than 75% which is incorrect.  When I update the PSC register, am I able to use the dates the shares were orignally issued or will they be penalised? 

Thank you. 

Replies (8)

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David Winch
By David Winch
10th Jul 2024 15:00

Yes, put in the correct dates and details. No penalties.
David

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RLI
By lionofludesch
10th Jul 2024 15:37

If there were penalties, I think you should still do it.

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By taxdigital
10th Jul 2024 16:54

The company in question is obliged to update the PSC register within 14 days after the PSCs have confirmed their particulars. Similarly, there are other obligations as well, such as to notify the Registrar etc. Whilst CoHo doesn't charge a financial penalty for late filing, failure to maintain or update the register is a criminal offence (s.790M(13) CA 2006) which invites a level 3 fine on the standard scale. As with many other provisions within the company law that invite criminal sanctions, this one too isn't generally enforced. However, my information is that going forward CoHo are likely to be stricter in enforcing at least some of the company law provisions.

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Replying to NSIaccounting:
RLI
By lionofludesch
10th Jul 2024 20:26

Thanks for the sales pitch.

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Replying to lionofludesch:
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By FactChecker
10th Jul 2024 20:55

Not sure, when they read the Marketing manual, that they understood FUD (Fear, Uncertainty and Doubt) ... they've tried to cram all those in there, but ended up with uncertainty!

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Replying to NSIaccounting:
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By paulwakefield1
11th Jul 2024 07:44

Hmmm - ChatGPT and a Canadian business. Weird.

Edit 1: Actually probably ChatGPT throughout. The number is genuine but links to Universal Accounting and Tax Services Limited rather than NSI.

Edit 2: maybe the 2 businesses are linked as they are both based in Calgary although with different numbers and addresses. But I still think it is a GPT concoction.

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Replying to paulwakefield1:
RLI
By lionofludesch
11th Jul 2024 11:32

paulwakefield1 wrote:

Hmmm - ChatGPT and a Canadian business. Weird.

Edit 1: Actually probably ChatGPT throughout. The number is genuine but links to Universal Accounting and Tax Services Limited rather than NSI.

I was going to get some Premium Bonds.

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Replying to lionofludesch:
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By paulwakefield1
11th Jul 2024 11:44

Nicking your copyright:

[chuckle]

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