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

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

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

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