Employment Status

Are you a contractor? If you work for someone else, it is important to know whether you are working for that person in an employed capacity or in a self-employed capacity as an independent contractor.

Your employment status will determine the charge to tax on income from your employment or self-employment. It will also determine the class of NICs, which are to be paid.

Umbrella Companies employ you for tax purposes and complete central returns for all their contractors. It's less hassle and more flexible for you but take home pay is typically less than that the limited company option.

The best option for you depends on your plans, 'one off' contract or 'contractor for life'? [Read More...]

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Parasol Umbrella

Parasol gives contractors the chance to maximise their working potential.

Parasol Umbrella, To be confirmed WWW: http://www.parasolgroup.co.uk MAIL: enquiry@parasolgroup.co.uk CALL: 0800 583 6000 - Quote Ref: PAR HOURS: Mon to Fri 8am - 8pm (Fri 6pm), Saturday 10am - 4pm SCORE: 2.2 / 5.0 [41 Votes] FIND: To be confirmed

Introducing Parasol Umbrella

Parasol is a professional employment organisation supporting the flexible workforce in the UK and has been providing a comprehensive range of employment solutions to the contracting and freelance industry since 2000.

Since then, Parasol has supported over 53,000 employees and has also established partnerships with over 2,500 recruitment agencies including Alexander Mann Solutions (AMS), Hays, Reed and Capita Resourcing.

Parasol has won a number of business awards and accolades for the quality of its support over recent years, appearing in the Sunday Times Fast Track 100 and 250, while also gaining a selection of Best Companies Awards. 

Parasol is also a founding member of the Freelancer and Contractor Services Association (FCSA), has ISO:9001 accredited systems and processes, and was awarded the Investors in People Gold status.

Benefits of Parasol

  • Contract of employment and statutory benefits such as sick pay and holiday pay
  • £25m comprehensive insurance package
  • We reimburse legitimate business expenses, tax and NI free
  • Free to join
  • Industry leading online portal, My Parasol - enter timesheets, claim expenses, submit receipts and track the status of payments
  • 98% of the money that comes in to us from agencies or clients is paid out via BACS to our employees that very same day (Please remember BACS takes 3 working days to clear into your account)
  • Option torequest a Same Day Payment if you need your cash any quicker
  • Discuss your pension options with our specialist IFA, Parasol Money
  • Dedicated Employee Support team available Monday to Friday, 8am - 7pm

Umbrella Compare Review of Parasol Umbrella

Parasol is one of the original 'pure' umbrella companies. They started trading around 2002 and focused just on the umbrella company solution as opposed to many companies who treated the umbrella company service as a sideline.

  • Minimum earnings threshold of £10 ph and will only take you on if you earn more than this.

Very pricey.

Their website is clearly designed and easy to navigate around. It includes a wealth of contractor information together with a regular blog to keep you updated.

Umbrella Compare Promotional Code for Parasol Umbrella

Quote Umbrella Compare code PAR when contacting Parasol Umbrella.

Note: introductory offers and promotions run by Parasol Umbrella are subject to change without prior notice. Umbrella Compare is not responsible for offers current, planned or discontinued by Parasol Umbrella. See our terms and conditions for more details.

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Rating and Reviews of Parasol Umbrella

With 41 votes, Parasol Umbrella has an average review score of 2.2.

2.2 / 5.0 [41 Votes]

HMRC Compliance

It's the basics... Compliance with Tax, VAT, PAYE and fiscal arrangements is mandatory for contractors regardless of whether you use an umbrella company or your own limited company.

Incredible then that there are still rogue umbrella companies and limited company accountants who expose their contractors to fraud. Umbrella Compare provides THE solution, we thoroughly vet all umbrella companies and limited company accountants that we list [Read more...].

Umbrella Compare provides a holistic overview of contracting with the aim of helping new and old contractors find the right payroll solutions. Contracting should be about focusing on the contract, not payroll, accounting, HMRC and bureaucracy.