Glossary

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 Act (and its own articles of association). There are three common types of companies Private Limited Company (LTD), Limited Liability Partnership (LLP) & Public Limited Company (PLC). A Limited Company is a legal entity in its own right and the owner is protected by limited liability (meaning the shareholders’ financial liability is limited to the value of their investment in the company).

Other common terms

Limited Company Service

This service (offered to freelancers by FCSA members) covers the primary support services needed to help an individual in business on their own account run

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

FCSA Charter

The FCSA Charter sets out the minimum ethical standards and levels of conduct expected from the Freelancer & Contractor Services Association (FCSA) Accredited Members. All