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Companies House PSC

PSC reasons

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Is anyone else suddenly getting grief from Cos House over PSC reasons?

I'm on my second spat now and it concerns a company that was only formed two months ago. The formation agents seem to have put a vague generic reason for the PSC and someone (a bank?) wants it corrected.

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By Tax Dragon
23rd Mar 2021 07:11

What's wrong with correcting it?

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RLI
By lionofludesch
23rd Mar 2021 07:21

What needs correcting?

However vague the formation agent's generic reason, it cannot be as vague as your query.

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By Truthsayer
23rd Mar 2021 09:58

Who has said what exactly?

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By mumpin
26th Mar 2021 09:08

OK my problem is this.
When I form a company using Barclays the PSC says
"Nature of control
Has significant influence or control"

When the Director goes to open a bank account the bank contacts Cos House and says that this is incorrect and it should be by % of shares held AND by % of voting rights. I then have to amend. Does everyone have to do this or should I use a different formation agent?

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Replying to mumpin:
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By Wanderer
26th Mar 2021 09:13

mumpin wrote:

When I form a company using Barclays

You are using a bank to form companies?
If so that will be your problem.
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Replying to Wanderer:
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By mumpin
26th Mar 2021 10:39

I've formed over 200 companies with them over the past 3 years and this has only become an issue recently.
Who do you use and do they ask PSC REASONS at the formation stage?
Thanks

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Replying to mumpin:
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By Wanderer
26th Mar 2021 10:45

mumpin wrote:

Who do you use and do they ask PSC REASONS at the formation stage?

Companies Made Simple, never had an issue.
Others on here recommend just using Companies House, without going via a formation agent.
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Replying to mumpin:
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By Tax Dragon
26th Mar 2021 11:03

mumpin wrote:

When I form a company using Barclays...

When the Director goes to open a bank account...

A Barclays account? The bank needs to give itself a good talking to, if so!

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