Directors & PSC explained

Directors

Directors are legally responsible for running the company and for meeting its obligations, such as filing accounts and a confirmation statement on time. A private company needs at least one director who is a real person aged 16 or over. Directors have a service address on the public register and, from 2025, must verify their identity.

Shareholders (members)

Shareholders own the company through shares. When you form a company you decide how many shares to issue, their value (often £1 each), and who holds them. Ownership and control follow the share split, so a person holding most of the shares usually controls most decisions.

People with significant control (PSC)

A PSC is anyone who ultimately owns or controls the company. In most small companies this is simply the main shareholder. You are generally a PSC if you:

• hold more than 25% of the shares;
• hold more than 25% of the voting rights;
• can appoint or remove a majority of the board of directors; or
• otherwise exercise significant influence or control over the company.

Companies House keeps a register of PSCs so it is clear who is really behind a company. Every PSC must verify their identity.

How Thucy helps

Thucy works out who counts as a PSC from your share split, explains each role as you go, and makes sure every director and PSC completes identity verification before your company is filed at Companies House.