What happens to staff pay if the Charity Commission investigates?
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Leadership & Governance
Person of Significant Control and Setting up a new Business Bank Account
Wendy Harper Director at Wyre Horseways CIC Posted 1 year ago
Hi,
I am one of 3 directors of a newly formed small CIC. We do not have share capital. When setting up the company we stated that there were no PSCs as the definitions given didn't seem to apply to our CIC. However, I have since had a letter from Companies House that among other things asks us to identify and record PSCs.
If we have no share capital do we need PSCs?
Does the fact that I do most of the day to day running of the company mean that I should declare myself to be a PSC?
We are about to apply for a Business Bank Account and I note they ask about PSCs - will having no PSCs be an issue when setting up an account?
Thank you
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