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<p>There are no current plans to introduce automated verification of beneficial ownership
information.</p><p> </p><p>However, Companies House is undertaking a number of activities
to improve the quality of information relating to beneficial ownership, the People
with Significant Control (PSC) data, on the register, including:</p><p> </p><p>1.
contacting companies where they believe the company has misunderstood the requirements,
to ensure that the records are corrected and that they comply with their legal requirements;</p><p>2.
pursuing companies that have not provided PSC information in their confirmation statement
or that have not provided a statement of additional matters;</p><p>3. following up
with companies and PSCs where they have issued notices to their PSC (asking the PSCs
to provide them with information), or restrictions (where a PSC has failed to provide
information), to ensure they update the information on their company records;</p><p>4.
seeking compliance from companies where there has been a complaint about missing or
incorrect PSC information.</p><p> </p><p>The cost of maintaining the entire public
register in 2016/17 was £56.6m. Staff costs were £28.5m and non-staff administration
costs were £28.1m. Further information can be found in the Companies House Annual
Report and Accounts for 2016/17.</p><p> </p>
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