It’ll increase the transparency of who owns and controls companies in the UK. This legislation will make changes to current requirements 
about people with significant control (PSC) information.
Prior to these rules being introduced, the UK already had a requirement for companies and limited liability partnerships (LLPs) to keep a publicly available register of PSCs which had to be filed with Companies House.
In April, Companies House issued a release explaining how PSC information filing will change when the new rules are introduced later this month. PSC details will no longer be updated on the confirmation statement (CS01). Instead, companies will need to inform Companies House on forms PSC01 to PSC09 whenever there is a change. They will have 14 days to update their register and another 14 days to send the information to Companies House.
Currently DTR5 companies are exempt from the requirements however, this could change. Companies which are traded on an EEA or Schedule 1 specified market remain exempt, but others will need to send PSC information when changes take place.
Companies House information on Changes to UK anti-money laundering measures is available here.
