How does Parasol CIS work?
We’ll ensure compliance by conducting a self-employment check on all your assignments. This will determine your employment status and confirm that Parasol CIS is the right solution for you. We’ll invoice your agency or end client on your behalf and once these funds are paid, we’ll make any necessary tax deductions, take a small margin and then pay the remaining earnings to you.
Our process ensures you’re paid quickly and compliantly. As a sole trader, you would still be responsible for filing a self-assessment tax return at the end of the year and paying any remaining tax (or receive a rebate), and we can offer a discounted tax return via our sister company Brian Alfred.
What happens if my assignment falls under Supervision, Direction and Control (SDC)?
Don’t worry. If you are subject to SDC, we’re still here to support you. For this assignment, you can become an employee of Parasol. Parasol will have a contract with your agency and you’ll have a contract of employment with Parasol.
We’ll invoice your agency and process your pay including tax and NI contributions, taking away the hassle and as you will be an employee of Parasol you will receive all of the benefits and protections of employment.
Is insurance cover included?
Yes, we include Professional Indemnity (£5m cover) and Public Liability (£5m) insurance. If you become an employee of Parasol, we also hold Employer’s Liability insurance (£10m).
How do I get started?
If you would like to find out more about Parasol CIS, request a call back below and a member of the team will be in touch.
