Glossary

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, the payment of some state benefits, as well as other administrative duties.

Other common terms

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

Umbrella Company

Umbrella companies employ contractors under the terms of a permanent contract of employment, meaning that the individual receives all 84 statutory rights and employment benefits

Offshore Structures

This term refers to any structure including a company that is based offshore (i.e. not in the UK) that offers services to UK recruitment agencies