MyAccountant Blog

What is FCSA and why our accreditation is important for our clients

You have, at some point, looked at choosing the right accountant for your contracting business but how do you which one you can trust?

After all, you want to make the most of the benefits of the limited company trading vehicle with the least risks and headache involved. When you put your trust in the accountant to give you the best and compliant advice, you want to make sure that they operate to the highest of standards.

Quality

The company you’d want to work with should be a reputable firm that offers the highest standards of services and compliance. Ideally, these firms would be audited by a trade body or association, so you have a guarantee as to what you can expect.

This is particularly important at a time when the freelance sector is in the government’s focus, due to the ongoing consultation into reforming the intermediaries’ legislation (IR35) in the private sector next year.

It is more important than ever that both contractors and recruiters can rely on an accountant to provide compliant advice.

About FCSA

MyAccountant.co.uk’s accreditation comes from FCSA (The Freelancer & Contractor Services Association), which is the UK’s leading membership body dedicated to raising standards and promoting compliance for the temporary labour market.

FCSA’s codes of compliance are recognised as the gold standard in the industry, and its members go through the strictest and most stringent audit process on an annual basis.

  • The FCSA Codes of Compliance has been developed by Ernst & Young, in consultation with HMRC, and is available to the public on the FCSA website.
  • All FCSA Accredited Members are tested annually against the FCSA Codes of Compliance by independent, carefully selected assessors.
  • The assessors are top-tier regulated accountants and solicitors bound by their own professional standards and code of conduct and are independent of the FCSA.
  • The FCSA Codes of Compliance is continually updated to reflect current legislation.
  • Non-compliance by FCSA Accredited Members results in the suspension or termination of FCSA   Accredited Membership.
  • No FCSA Accredited Member is allowed to operate Offshore Schemes, Loan Schemes, Trusts, Managed Services Companies Schemes, Pay-day-by-Pay models, or similar.

Source: FCSA.org.uk

If you are already a MyAccountant client, you have nothing to do as you are already safe with us. You can view our certificate here.

If you are looking for a reliable contractor accountant that prides itself on its client-focused approach, contact us at 0800 917 9100 or e-mail info@myaccountant.co.uk