Glossary

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 variety of sectors, all of whom choose to operate as either independent businesses, limited companies, employed by umbrella companies or as self-employed individuals. The tax regulations and employment status legislation affecting professional contractors is complex and the service provider sector exists to support the flexible workforce in being compliant with their tax and legal obligations.

Other common terms

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

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

Limited Company

A Limited Company must be incorporated at companies house, have its own unique company registration number and is governed by the requirements of the Companies