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

FCSA Codes of Compliance

The Freelancer & Contractor Services Association (FCSA) operates best practice codes of compliance designed to ensure that its Accredited Members are providing compliant advice and/or

PSL

Is a ‘Preferred Suppliers List’ that recruiters will use to identify companies that they are happy to work with, such as specific umbrella companies, that

Personal Service Company (PSC)

This is another term used to define a limited company and is most commonly used with reference to a company that contains a sole director/shareholder