It is imperative for a business to keep up-to-date people information, which leads to stronger compliance and when managing entities it allows for more transparency.
All People With Significant Control Content
A new proposal for the Beneficial Ownership Register in the UK would record and make public information concerning overseas entities that own UK property. Additionally, the government hopes to gain information on overseas entities that enter into government contracts.
Since April 2016, the PSC Register, also referred to as the Beneficial Ownership Register, has required that all UK companies and English Law LLPs create and maintain a list of individuals and registrable legal entities that wield significant influence within the company.
The information contained within the PSC Register will hopefully combat corruption, tax evasion and the financing of terrorist cells, but the work required to obtain this information will have to be done by you. The answers above should help guide you; for more specific information, consult a legal professional.