Glossary

Limited Company Service

This service (offered to freelancers by FCSA members) covers the primary support services needed to help an individual in business on their own account run their own limited company. It traditionally includes administrative support (invoicing, record keeping, and document administration), bookkeeping, accounting, production of business financial information, company secretarial services, production of required corporate returns and corporate and personal tax advice, together with legal advice and support covering employment status.

Other common terms

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

FCSA Charter

The FCSA Charter sets out the minimum ethical standards and levels of conduct expected from the Freelancer & Contractor Services Association (FCSA) Accredited Members. All

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