Glossary

Employment Agencies & Businesses

Government departments often differentiate between employment agencies and employment businesses. The Department for Business, Energy and Industrial Strategy (BEIS) categorises employment agencies as those companies that find people permanent work, simply fulfilling a recruitment role. It defines employment businesses as those companies (often known as temping agencies) who are responsible for placing workers in roles with a client of theirs, usually on a temporary basis. Employment businesses are responsible for the payment of the worker and for dealing with employment rights such as annual leave.

Other common terms

Service Provider Sector

Service providers offer specialist tax, accountancy and administrative support, and advice for the professional freelance workforce. The specialism provides support to independent professionals across a

Open Book Accounting

Open book accounting involves companies publishing information whose availability is often restricted on the grounds of commercial sensitivity. FCSA’s approach to auditing Accredited Members involves

Personal Service Company (PSC)

This is another term used to define a limited company and is most commonly used with reference to a company that contains a sole director/shareholder