This report, authored by Maria Jofre (Open Ownership) and Andres Knobel (Tax Justice Network), provides an in-depth analysis of the United Kingdom (UK) People with Significant Control (PSC) register. The research identifies key trends in beneficial ownership (BO) structures, assesses the transparency of ownership data, and highlights potential risks in ownership networks. The findings aim to inform policy reforms, enhance enforcement actions, and strengthen the credibility of BO registries.