Glossary

FCSA Accredited Member

An FCSA Accredited Member is a service provider – namely an umbrella employer, contractor accountant or CIS payroll provider – that has been independently audited to confirm that they adhere to the rigorous Freelancer & Contractor Services Association (FCSA) Codes of Compliance and a copy of the audit report is sent to HMRC for complete transparency.

Other common terms

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

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

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