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

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

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

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