IT Contractors

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Homepage > Set up limited > IT Contractors Umbrella or Limited Company?

IT contractors are becoming more in demand and can earn a lot more than a regular employee.

If you’re thinking of starting out as an IT contractor or are in between jobs, working through an umbrella company could be a good solution for you. If you have been contracting for a while and earn more than £35,000 per year it may be worth starting your own limited company. Having your own company will give you the flexibility of being your own boss and freedom to pay yourself a combination of salary and dividends, which is a lot more tax efficient. You will also be able to claim back a range of expenses.

Want to know more about becoming an IT Contractor? Our sister company ClearSky Contractor Accounting can help set up your own limited company and give you all the advice you need.

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Benefits of ClearSky

Comprehensive insurance cover – you’ll get up to £17 million of insurance cover

Expert support – ClearSky specialises in providing accounting services to limited companies and its experienced team has helped thousands of contractors

Great value – a transparent approach to pricing and great range of packages mean you only pay for what you need, with no hidden extras

Join ClearSky
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Why choose us?

I knew about Parasol because my wife had previously worked as a contractor, so from the very beginning, I knew I was in safe hands. Parasol's helpful and knowledgeable team helped me get started and as a first time contractor, this was very important to me. The online portal is really easy to use and makes submitting timesheets and expenses a breeze. I know that if I ever have a problem, Parasol is just a phone call away - even at the weekend, so I can contact them at a time that suits me. If you’re new to contracting and want a dedicated and professional team by your side, I recommend Parasol.

Chris Goodfellow

I have been working with Parasol on a few different contracts since 2012 and I have been very satisfied right from my initial conversation. I cannot say enough how everyone at Parasol is extremely friendly, welcoming and always helpful. I was very pleasantly surprised how easy it was to set up an account; Parasol did everything for me and explained all the steps. The website is so easy to use, beautifully designed and user friendly. It’s an absolute pleasure to deal with everyone at Parasol, they always put me at ease, help with all my queries and issues and make me feel welcome at all times! Thank you for your hard work, I am aware of it every minute I speak with you and I’m grateful, as you’re a model of what a customer service should be like!

Beatrice Tamasova

I joined Parasol after finding a role as a service desk analyst and even though I didn’t seek them out myself, working with Parasol is one of the best decisions I’ve made. As a first time contractor, Parasol made the transition smooth and easy, and any fears I had about the amount of administration involved soon disappeared. Every time I’ve contacted Parasol they have listened and given me informative advice and managed to solve any queries I’ve had. If you want to be a contractor and are nervous, Parasol is a great support system.

Sarfraz Hussain