Parasol reveals how contractors and freelancers benefit from joining an umbrella company. Use the contractor calculator and guides on the website to learn more.
Joining an umbrella company like Parasol can be extremely beneficial if you're a contractor, freelancer or consultant. Of course, the financial benefits depend on the hourly rates you charge, the frequency and duration of your assignments, and how much you can claim on expenses.
Parasol helps contractors maximise their take home pay. This leading umbrella company employs flexible workers, providing them with a full contract of employment and deducting PAYE and NI before wages are transferred to their bank account. Furthermore, expenses can be offset against taxable pay, which maximises the amount you take home.
Whether you're a public sector, engineering or IT contractor, any skilled professional in any sector can join an umbrella company. They will then enjoy the freedom and flexibility of contracting, coupled with the security of traditional employment: the best of both worlds.
Use the contractor calculator on the Parasol website to see how your take home pay would be maximised by joining an umbrella company. However, there are plenty of other benefits to bear in mind: for example, invoicing and pay retrieval is organised by the umbrella company, minimising hassle. There will be no need to complete a tax return as you'll have employee status, so contractors can reduce paperwork and reclaim their evenings and weekends. Finally, Parasol provides extensive insurance cover for all employees. It all adds up to more personal time, fewer distractions, and peace of mind.
It's important to find the best umbrella company for your needs, and Parasol prides itself on superior employee support including telephone advice, HR support and full employee rights – of course, the company's reputation speaks for itself. Contact the team today to find out more about the benefits of joining Parasol.