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

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

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

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