Glossary

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 that they have vetted, and deemed compliant.

With more and more legislative change giving HMRC powers to transfer debt throughout the contractual chain, it’s vital that recruitment agencies understand the difference between compliant and non-compliant providers and having a PSL allows the agency to closely regulate the type of businesses it engages.

Other common terms

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

Contractor Accountant

Contractor accountants are specialists who provide tax advice and accountancy services to independent professionals who work for themselves often via their own limited company. The contractor accountant can provide

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