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

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

HMRC

Her Majesty’s Revenue and Customs (HM Revenue & Customs or HMRC) is a government department responsible for the collection of taxes and National Insurance contributions,

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