Glossary

Contractor Accountant

Contractor accountants are specialists who provide tax advice and accountancy services to independent professionals who work for themselves often via their own limited company. The contractor accountant can provide a range of accounting services to suit the individual needs and requirements, to generally include annual accounts, company tax returns, payroll, quarterly VAT returns, company secretarial matters, tax planning advice and liaising with HMRC amongst others.

Other common terms

PSL

Is a ‘Preferred Suppliers List’ that recruiters will use to identify companies that they are happy to work with, such as specific umbrella companies, that

Sole Traders

This term is used to define self-employed people who run their business for themselves and take full responsibility for its success or failure. Unlike working

PAYE

Meaning ‘Pay As You Earn’, this term refers to the method of paying Income Tax and National Insurance Contributions (“NICs”) in the UK. Your employer