The corporate team at Murrell Associates has been quick to advise companies on the latest Persons with Significant Control (PSC) requirements.
The law firm says it has advised some 50 companies so far on the new legal obligations to maintain a register of Persons with Significant Control with their statutory books.
Chris Wills, director and head of corporate, said: “We are already seeing deals being delayed due to companies who have not yet adhered to the new legal requirements.
“It is an important requirement for any company that is contemplating the sale or acquisition of another company, as you do not want to risk the additional financial cost and aggravation arising from delaying a deal.
“We would advise all companies to consider professional guidance for completing this procedure, to avoid unnecessary pitfalls in the future.”