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Explore the Most Recent Updates from Parasol: Tax Revisions, IR35 Insights, Partner Benefits, and Valuable Tips and Tricks for Umbrella Working.

Our knowledge hub is here to assist and keep you well informed.

Talking points

September 17, 2024
ERB-webinar-caroola-brabners-northstar
September 17, 2024
Webinar catch-up: Labour’s New Deal for Workers – Possible implications for Recruitment Agencies and the Contractor Payroll Industry
Date: Wednesday 2nd October 2024 Time: 11am-12pm  SpeakersChris Bloor, Director of Compliance, Caroola Group. Tina Holt, HR Director, North Star PeopleHannah Morrison, Legal Director, BrabnersAndrew Webster, Impartial Consultant specialising in UK Contractor […]
April 22, 2024
April 22, 2024
Parasol CIS
Not sure if contracting is right for you? Don’t let myths put you off, here are a few common misconceptions to be aware of.

Compliance and legislation

IR35 help

Calculate your take-home pay.

Calculate your
take-home pay.

Calculations are examples based on a series of assumptions

ASSUMPTIONS

GENERAL:
Based on rates and thresholds for 2024/25.
Assumes 12 months worked post 6th April 2024
No income from other sources in the tax year
Working 40 hours per week over 52 weeks
28 days holiday per year
1257L tax code

  

UMBRELLA
You are not subject to SDC
Includes Parasol umbrella solution margin - £10 average
Holiday pay is paid in advance of taking any annual leave
Pension is not taken into account
No expenses can be claimed.

 

LIMITED
Assignments are not subject to IR35
Includes flat rate VAT benefit for the first year at 15.5%.
Director's fee of £229 per week
Includes Caroola Accountancy fee of £135 per month
Claiming £265 expenses per week
Claiming 200 business miles per week

FAQ's

Answers to the most frequently asked questions - all things umbrella, IR35, legislation and more
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Glossary

Tired of hearing jargon words and not knowing what they mean? We put them all in plain, simple language
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