As an IT specialist, working through an umbrella company could be the most profitable way for you to work in this thriving sector. Parasol, the leading umbrella company for IT contractors, can guide you through the transition to contracting with expert support which ensures you get paid on time every time.
The IT sector, contractors and umbrella companies
The IT sector is increasingly filled with contractors, especially working through an umbrella company. With the fluctuating nature of UK, European and Global markets, firms in the private and public sector need skilled specialists across all IT and technology disciplines. Contractors are recognised as capable solutions to skills gaps certain in-house IT departments might be faced with.
So what are the benefits for an IT professional in joining with Parasol as their umbrella company?
You can keep several perks of a PAYE employee
This one mostly applies to professionals contracting for the first time. Making the transition to contracting in IT from permanent becomes easier if you can take some of the top perks with you in the process. Through a fully compliant umbrella company like Parasol, you don’t have to take on more paperwork or fuss with HMRC obligations – it’s all taken care of for you.
Contracting through an umbrella company tacks on an added bonus…
You can claim a range of costs and expenses
Costs and expenses can help you maximise your income, but figuring out what you can and can’t claim or be reimbursed for can be complicated. When you join our umbrella company, Parasol’s experts will make the process as easy as possible for you, helping you claim legitimate cost and expenses – everything from training courses to an iPad!
Again: this is an add-on you won’t get as a permanent worker. To help you understand the full scope of expenses and costs you can claim, be sure to read our guide to expenses or get in touch.
You can take advantage of a more flexible way of working
Research shows that contracting is the smarter way to work in IT. Studies conducted by IPSE[1], APSCo, the ONS and REC[2] show that contracting is the flexible choice for a career. Furthermore, the benefits of the contracting WorkStyle (or work-life balance) have been cited as a strong reason contractors make the transition through an umbrella company.
IPSE Economic Advisor Lorence Nye told shout99.com:
“The latest figures show full time self-employed people are the fastest growing group of workers in the nation. We know people who work for themselves report particularly high levels of job satisfaction and our research shows the vast majority have no intention of returning to traditional employment.”
It seems that once you contract, you won’t go back.
You can walk away with significantly more money
As an IT specialist, you have access to greater earning power through an umbrella company than you would as a permanent worker. Using CWJobs’ salary search tool, a search on the keyword “IT” reveals that contract salaries in the sector average £85,964, whilst permanent salaries average £47,500[3].
How much could a move to contracting net you in take home pay? Try out our official IT contracting calculator to find out.
Turn to Parasol, the leading umbrella company for IT contractors
When specialists in any sector, including IT, we understand that there’s a wide range of career options to choose from. That’s why the dedicated team at Parasol is on hand to provide the best advice tailored to suit your individual circumstances.
Parasol has over 15 years in the business – we know IT contractors inside and out. This means you can take comfort that you’ll receive expert support whenever you need it.
Throughout your career, from set up phase and beyond, Parasol is with you all the way. Our expert knowledge as the leading umbrella company for IT contractors means starting your new career will be straightforward and hassle-free.
For more information, or to join us, please call 0800 458 0818 or email enquiry@parasolgroup.co.uk.
[1] Startups.co.uk, “Freelancers contribute £109bn to the UK economy”, 26 April 2016
[2] Rec.uk.com, “Report on Jobs: Permanent placements growth at seven-month low, but temp billings rise at faster rate,” 10 May 2016
[3] Figures drawn from a search conducted 3rd August 2016.
