Personal Service Companies - Select Committee on Personal Service Companies Contents


AATAssociation of Accounting Technicians
ACCAAssociation of Chartered Certified Accountants
BBCBritish Broadcasting Corporation
BCSChartered Institute for IT (British Computing Society)
BETsBusiness 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.
CIPPChartered Institute of Payroll Professionals
CIOTChartered Institute of Taxation
CISConstriction Industry Scheme
Compliance yieldThe revenue collected by HMRC from enforcement action which uncovers non-compliance with the IR35 provisions.
CBIConfederation of British Industry
DoHDepartment of Health
Exchequer protection The estimated amount of revenue which is 'protected' by the IR35 provisions (see paragraph 71)
Exchequer yieldThe revenue collected by HMRC from taxpayers making payments in accordance with the IR35 provisions.
FSBFederation of Small Businesses
FreelancerAn individual who, instead of working as an employee, offers their services as a limited-term contractor, sometimes working through a personal service company.
FCSAFreelancer and Contractor Services Association
GSKGlaxoSmithKline plc
HMRCHer Majesty's Revenue and Customs
HMTHer Majesty's Treasury
ICAEWInstitute of Chartered Accountants in England and Wales
ICASThe Institute of Chartered Accountants of Scotland
IoDInstitute of Directors
IIMInstitute of Interim Management
IMAInterim Management Association
Interim ManagerInterim managers are used to fill short-term management vacancies in both the public and private sectors.
IR35 ForumEstablished in 2011, the Forum includes taxpayer representatives and professional advisers, providing advice to HMRC on the administration of IR35.
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.
LGALocal Government Association
LITRGLow Incomes Tax Reform Group
LLPLimited Liability Partnership
LPCLow Pay Commission
MSCManaged 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.
NASUWTNational Association of Schoolmasters Union of Women Teachers
NHSNational Health Service
NICsNational Insurance Contributions
ONSOffice for National Statistics
OTSOffice of Tax Simplification
PSCPersonal service company
PPN 07/12Procurement 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.
PCGProfessional Contractors Group
RECRecruitment and Employment Confederation
RTIReal time information
Serial contracting The practice of securing ongoing 'employment' by moving sequentially from one limited term contract to the next.
Umbrella companyAn 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.
UCATTUnion of Construction, Allied Trades and Technicians

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