Glossary

IR35

IR35 also known as the “intermediaries legislation”. This piece of legislation to is designed to prevent tax avoidance for any contractor working for an end-hirer via an intermediary (i.e. a Limited Company or Personal Service Company). In a nutshell, it is aimed to stop contractors working as disguised employees and any assignments “inside IR35” or “caught by IR35” must make a deemed payment to HMRC roughly equivalent to the taxes that would have been paid had they been employed by the hiring company.

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

Sole Traders

This term is used to define self-employed people who run their business for themselves and take full responsibility for its success or failure. Unlike working

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