A hassle-free umbrella company
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Work for yourself, but never by yourself
Working through an umbrella company offers an ideal first step into contracting, without all the hassle and responsibility of paperwork. If you join us at Parasol, we’ll be with you all the way, with employment support and benefits that are second to none.
We’ll handle your administration for you, calculating your tax and NI contributions and making payments to HMRC. At the same time, you’ll be paid swiftly and accurately, and there will always be someone available to talk to if you have any queries or concerns.
Want to join Parasol? Get in touch with our team today to get started. Still unsure? Let us help you choose the right option.
Benefits of Parasol
Support that’s second to none – our expert team is on hand 8am-7pm Mon-Fri, and is even available on Saturdays 10am – 4pm
Swift payment – we run up to five payrolls per day and can process same-day payments too
Ditch the paperwork – our innovative online portal is available 24/7, allowing you to submit timesheets, claim expenses and track your pay
We listen and learn – providing the best possible support is really important to us
Your pension, your way
Parasol can make employer’s contributions to any existing private pension provider. This works in the same way as a salary sacrifice scheme meaning employees benefit from savings in tax and national insurance. When employers make an employer’s contribution into your pension scheme, there are Employer’s NI savings. As we stand for complete pay transparency, we will pass these savings on to you by increasing the amount of your contribution.
To learn more, take a look at our guides or browse our frequently asked questions.
Have you considered starting a limited company?
Joining an umbrella is great if you’re just starting out in contracting and want to keep some of the benefits of employment such as sick, holiday and maternity pay. You also don’t have to worry about admin or compliance. However, if you’re earning more than £15 per hour, and planning to contract for some time, going limited might be better for you.
There is more responsibility and paperwork, but there are also significant benefits. It tends to be more profitable, as you can pay yourself a combination of salary and dividends to ensure you’re more tax efficient. There’s also a lot more flexibility – you really are your own boss. ClearSky’s expert contractor accounting support will make the switch as easy and seamless as possible.
Having someone with you all the way and providing the right support is crucial, whether you’re working under an umbrella company or through your own limited company. That’s why ClearSky has a dual solution service that allows you to seamlessly switch between umbrella employment and limited company working styles, depending on your needs.
To understand more, get in touch with our Best Advice team today, or take a look at our other resources to help you decide.
FAQs
What is an umbrella company?
An umbrella company employs contractors working on temporary assignments or contracts. Joining a compliant umbrella company gives you the chance to enjoy increased flexibility, while taking advantage of the rights and benefits a permanent employee would typically receive.
What are the advantages of an umbrella company?
There are a variety of benefits to joining an umbrella company. You will enjoy the same protections as any other employee and may be able to claim tax relief on some business costs and expenses – subject to the SDC status of the assignment. Depending on the Umbrella Company, you may be able to benefit from reward schemes, private healthcare plans and referral incentives.
Should I use an umbrella company or a limited company?
This depends on a variety of factors. The assignment rate, IR35 status of the assignment and duration of the contract will all impact on this decision. An umbrella company may be better if you are new to contracting and intend to be contracting for a short period of time, or your contract is inside IR35.
Does using an umbrella company free up my time?
Using a compliant umbrella company will mean that you are an employee and therefore there will be minimal administration. Simply fill in your timesheet online and the umbrella company will do all of the rest.
Will I still need insurance?
As your employer, the umbrella company will need to ensure that you are covered by their insurances. At Parasol, we provide employees with Professional Indemnity, Employers' Liability and Public Liability Insurance.
Affected by IR35?
If you currently work as a PSC or Limited Company Director and your current or upcoming contract seems to be inside IR35 there’s no need to worry. Parasol’s umbrella service could be the perfect solution for your needs. Just another way we’re with you all the way.
Expect first class offerings when you join Parasol
• Online Portal – Easy to use, secure online portal available 24/7 for all employees to access their employment record and complete any tasks (entering timesheets, requesting leave) or to request support.
• Employee Support Team – Offering best in industry advice and guidance; our employee support team are available to help with any queries six days a week including Saturdays.
• Same Day Payroll Guarantee – If we have all the necessary information from the agency to identify the payment by 5pm, we guarantee to make the payment to you by same day payment. If we don’t send payment to you the same day, we’ll return the margin we have retained to you.
• Multiple Payrolls – We run up to 5 payrolls every working day; this means that you are paid quicker and do not have to wait until a set day to be paid like traditional employers.
• Insurance – We offer all our employees a comprehensive insurance package that covers you for up to £20M. This includes employer’s liability, professional indemnity and public liability.
• Expenses – We can help you to maximise your income through claiming compliant and legitimate business expenses.
• Access to Parasol Rewards – From your weekly shop to your annual summer holiday, you can make significant savings with some of the biggest names on the high street through our dedicated reward platform.
• Pensions – Parasol can make employers contributions to any existing private pension provider and this works in the same way as a salary sacrifice scheme meaning you will benefit from savings in tax and national insurance. As we stand for complete pay transparency, we will pass on the employers NI savings; something other umbrella companies do not. Alternatively, you also have an option to join our Scottish Widows group pension scheme.
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