Corporate transactions

Persons with significant control and how to identify them

On 6 April 2016 Part 21A and Schedule 1A to the Companies Act 2006 (“CA 2006”) came into force. Every company and LLP falling within the scope of those sections is now required to keep a register of people with significant control (“PSC”) over that company, known as a PSC register. As this requirement applies to all UK companies and LLPs (with limited exceptions), and due to the penalties that could be issued for non-compliance, it is important for officers to be aware of their obligations.

Getting your business ready for sale

Before beginning the process of finding a buyer, or once a willing buyer has expressed an interest in your business, it is vital that you are organised and arrange your business affairs in such a way which will help any potential buyer with their initial due diligence into your company prior to any formal offer being made.
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