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

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

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

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