Glossary

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 their own limited company. It traditionally includes administrative support (invoicing, record keeping, and document administration), bookkeeping, accounting, production of business financial information, company secretarial services, production of required corporate returns and corporate and personal tax advice, together with legal advice and support covering employment status.

Other common terms

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

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

Limited Company

A Limited Company must be incorporated at companies house, have its own unique company registration number and is governed by the requirements of the Companies