UK Business Glossary

Clear, data-backed explanations of UK company terminology. From SIC codes to insolvency types — understand the language of Companies House and UK regulators.

SIC Codes

A system of 5-digit codes used by Companies House to classify UK businesses by their primary economic activity.

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PSC (Person with Significant Control)

An individual or entity that holds significant influence or control over a UK company, as defined by the Companies Act 2006.

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Company Dissolution

The legal process of removing a company from the Companies House register, ending its existence as a legal entity.

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Ltd vs PLC

The two main types of limited company in the UK: private limited (Ltd) and public limited company (PLC), differing in share trading, capital requirements, and governance.

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FCA

The UK's financial services regulator, responsible for ensuring that financial markets work well and consumers are protected.

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Dormant Company

A company that has had no significant accounting transactions during the financial year, as defined by the Companies Act 2006.

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Companies House Filing

The legal obligations for UK companies to submit annual accounts, confirmation statements, and other documents to Companies House.

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Director Disqualification

A legal order preventing an individual from acting as a company director or being involved in company management for a specified period.

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Company Insolvency

Legal processes that apply when a UK company cannot pay its debts, including administration, liquidation, CVAs, and receivership.

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LEI

A unique 20-character alphanumeric code that identifies legal entities participating in financial transactions worldwide.

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Confirmation Statement

An annual filing that every UK company must submit to Companies House to confirm its registered information is up to date.

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AML

Laws and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income through UK businesses.

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KYC

The process of verifying the identity of clients and assessing their risk profile before establishing a business relationship.

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Company Strike-Off

The process of removing a company from the Companies House register, either at the directors' request (voluntary) or by the Registrar (compulsory).

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UBO

The natural person who ultimately owns or controls a company, even through a chain of intermediate entities.

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Company Accounts

Financial statements that UK companies must prepare and file with Companies House, ranging from micro-entity to full accounts depending on company size.

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Mortgage & Charge Register

A public register of security interests (charges) that UK companies have granted over their assets, filed at Companies House.

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Gazette Notice

An official notice published in The London, Edinburgh, or Belfast Gazette, the UK's newspapers of record for legal and regulatory announcements.

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UK Sanctions List

A list maintained by the UK Foreign, Commonwealth & Development Office (FCDO) of individuals and entities subject to financial sanctions and asset freezes.

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ICO Registration

The requirement for organisations that process personal data to register with the UK Information Commissioner's Office (ICO) and pay an annual data protection fee.

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Frequently Asked Questions

What terms does the glossary cover?

The UVAGATRON glossary covers 20 key UK business terms including SIC codes, PSC (Person of Significant Control), company dissolution, insolvency types, FCA regulation, and more. Each term includes a clear definition backed by real data.

How are glossary definitions different from Wikipedia?

Our definitions are enriched with live data from 53 government sources. Each term page shows real statistics — for example, how many companies are currently in dissolution, or how many PSC records exist — giving you practical context alongside the explanation.

Are the statistics on glossary pages updated?

Yes. Statistics shown on glossary pages are pulled from our database of 5.9 million active UK companies and refreshed daily. This includes counts from Companies House, FCA, CQC, and other regulatory bodies.

Data sourced from 53 official UK government and regulatory bodies including Companies House, FCA, HMRC, and Land Registry. Updated daily.