AAT | Association of Accounting Technicians
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ACCA | Association of Chartered Certified Accountants
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BBC | British Broadcasting Corporation
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BCS | Chartered Institute for IT (British Computing Society)
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BETs | Business Entity Tests. A series of twelve tests, published by HMRC in May 2012, which seek to give contractors an indicator of the risk that IR35 would apply to a specific contract.
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CIPP | Chartered Institute of Payroll Professionals
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CIOT | Chartered Institute of Taxation
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CIS | Constriction Industry Scheme
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Compliance yield | The revenue collected by HMRC from enforcement action which uncovers non-compliance with the IR35 provisions.
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CBI | Confederation of British Industry
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DoH | Department of Health
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Exchequer protection |
The estimated amount of revenue which is 'protected' by the IR35 provisions (see paragraph 71)
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Exchequer yield | The revenue collected by HMRC from taxpayers making payments in accordance with the IR35 provisions.
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FSB | Federation of Small Businesses
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Freelancer | An individual who, instead of working as an employee, offers their services as a limited-term contractor, sometimes working through a personal service company.
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FCSA | Freelancer and Contractor Services Association
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GSK | GlaxoSmithKline plc
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HMRC | Her Majesty's Revenue and Customs
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HMT | Her Majesty's Treasury
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ICAEW | Institute of Chartered Accountants in England and Wales
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ICAS | The Institute of Chartered Accountants of Scotland
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IoD | Institute of Directors
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IIM | Institute of Interim Management
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IMA | Interim Management Association
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Interim Manager | Interim managers are used to fill short-term management vacancies in both the public and private sectors.
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IR35 Forum | Established in 2011, the Forum includes taxpayer representatives and professional advisers, providing advice to HMRC on the administration of IR35.
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IR35 'rules' or IR35 legislation
| The legislative provisions which seek to apply standard rates of income tax and National Insurance to personal service company engagements where, without the presence of the personal service company, the relationship would be considered one of employment. Named after the Inland Revenue press release number 35, which announced the initial introduction of these measures.
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LGA | Local Government Association
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LITRG | Low Incomes Tax Reform Group
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LLP | Limited Liability Partnership
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LPC | Low Pay Commission
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MSC | Managed service company. Sometimes referred to as a 'composite', this company structure places contractors into groups of shareholders in a corporation, offering some of the benefits of operating through a limited company whilst limiting the administrative burden that would be experienced by a personal service company. The use of managed service companies was limited by legislation in 2007.
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NASUWT | National Association of Schoolmasters Union of Women Teachers
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NHS | National Health Service
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NICs | National Insurance Contributions
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ONS | Office for National Statistics
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OTS | Office of Tax Simplification
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PSC | Personal service company
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PPN 07/12 | Procurement Policy Note 07/12. Guidance, issued by the Cabinet Office, concerning off-payroll appointments in Government departments, their executive agencies and non-departmental public bodies.
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PCG | Professional Contractors Group
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REC | Recruitment and Employment Confederation
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RTI | Real time information
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Serial contracting |
The practice of securing ongoing 'employment' by moving sequentially from one limited term contract to the next.
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Umbrella company | An umbrella company provides invoicing, payroll and contract administration for flexible workers and contractors. The individuals concerned are employees of the umbrella company, and do not operate their own personal service companies.
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UCATT | Union of Construction, Allied Trades and Technicians
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