Glossary

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 a range of accounting services to suit the individual needs and requirements, to generally include annual accounts, company tax returns, payroll, quarterly VAT returns, company secretarial matters, tax planning advice and liaising with HMRC amongst others.

Other common terms

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

Umbrella Company

Umbrella companies employ contractors under the terms of a permanent contract of employment, meaning that the individual receives all 84 statutory rights and employment benefits

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