There are a variety of benefits to joining an umbrella company. You will enjoy the same protections and benefits as any other employee but have the freedom of being a contractor.
One of the benefits you’ll enjoy as a contractor or freelancer is the opportunity to claim legitimate business expenses and costs.
When you submit an expenses claim with Parasol, we may be able to deduct them from our invoice (the money we receive from the agency) before tax and reimburse them back to you – enhancing your income.
The types of expenses you can claim tax free can change based upon different assignments, please see our business costs and expense guide for more information.
Use our annual salary and hourly rate calculators
If you’re unsure of how much you should charge as your hourly rate as a contractor, our hourly rate calculator can help. Simply tell us how many hours you work and what your desired annual salary would be and our calculator will do the sums for you.
Already know your hourly rate? If you’ve already decided how much to charge as your hourly rate and want to find out how much this equates to each year, head over to our annual salary calculator to see what your yearly salary could be.