What Does FCSA Mean?
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Using an FCSA-approved umbrella company protects you from expected tax bills in the future.
What is an FCSA accredited umbrella company?
A new investigation by HMRC, the UK tax authority, has found that some of the most attractive ‘umbrella’ deals on comparison and brokerage websites don’t comply with tax rules, meaning they could land you with a hefty bill later. Most umbrella companies comply with all tax and employment laws and have nothing but good intentions when it comes to looking after their employees. This is different from the current system where intermediaries such as individual limited companies (commonly known as personal service companies) or umbrella companies decide on IR35 status. The Freelancer and Contractor Services Association (FCSA), which represents compliant umbrella companies, expressed disappointment at the government’s silence on an important issue to protect temporary workers.
How do I become an FCSA accredited umbrella company?
To achieve FCSA membership, umbrella companies must undergo an independent audit by leading industry experts to demonstrate the highest standard of compliance. The FCSA is the UK’s leading membership organisation working to raise standards and promote supply chain compliance in the temporary staffing market. Not only will they save your agency valuable time, but they will also provide your applicants with a reliable list of contractor accountants and umbrella companies. As a specialist contractor, freelance and self-employed accountant, Brookson is proud to be accredited by the FCSA and is the only company to hold FCSA status for its limited company, umbrella solutions and CIS solutions accountancy service.