Business Details
26 Years
experience
Your Trusted Umbrella Payroll Partner in the UK
Established in 2000, Parasol has become a trusted leader in umbrella payroll solutions for the agile workforce. As part of the Caroola Groupthe UK's largest contractor accountancy groupwe serve over 100,000 contractors and collaborate with 3,000+ recruitment agencies. Our expertise lies in ensuring compliant payroll management, accurate tax administration, and statutory benefits delivery. We hold Cyber Essentials PLUS accreditation and are founding members of the FCSA, demonstrating our commitment to compliance and data security. With a Trustpilot rating of 4.7* from 4,300+ reviews, we guarantee same-day payroll processing and dedicated support.Our services include comprehensive insurance, pension contributions, and access to exclusive contractor perks. We prioritise transparency through tools like our Key Information Document and IR35 Business Impact Tool. Our team of 550+ professionals delivers tailored financial planning and operational support. By combining industry-leading compliance with employee-centric benefits, we ensure contractors receive secure, timely payments while maintaining HMRC adherence. This dedication to excellence has positioned us as a top-tier choice for payroll solutions in the UK.
Services
Umbrella Payroll
Tax Compliance
Insurance Coverage
Pension Contributions
Financial Planning
IR35 Support
Employee Benefits
Payroll Software
Contractor Support
Rewards Platform
Details
- Year established: 2000
Highlights and features
- We guarantee same-day payroll processing for timely payments.
- Our FCSA membership ensures industry-leading compliance standards.
- Cyber Essentials PLUS accreditation protects your data rigorously.
- 4.7* Trustpilot rating from 4,300+ satisfied contractor reviews.
- We provide statutory benefits including insurance and pension contributions.
Associations and certifications
- FCSA
- Cyber Essentials PLUS
What people say
Excellent support
Same-day payments
Trusted service
Great benefits
Compliant and secure
Services
Umbrella Payroll
Our umbrella payroll solution ensures compliant salary processing for contractors, handling tax deductions and HMRC reporting. Contractors receive statutory benefits including sick pay, maternity leave, and 28 days annual leave. We guarantee same-day payments upon receipt of timesheets, maintaining accuracy and reliability for temporary workers across the UK.
Tax Compliance
We specialise in IR35-compliant payroll administration, ensuring contractors meet HMRC requirements. Our services include accurate tax code application, National Insurance contributions, and real-time reporting. As FCSA members, we adhere to strict compliance standards, providing peace of mind for contractors and recruitment agencies alike.
Insurance Coverage
Parasol offers comprehensive insurance packages including 20m coverage for contractors. Benefits include sick pay protection, maternity/paternity support, and employment rights safeguarding. Our policies ensure financial security during assignments, aligning with statutory requirements while providing additional contractor-specific protections.
Pension Contributions
We facilitate employer pension contributions to private providers, enhancing contractors' retirement savings. Our scheme operates like a salary sacrifice model, passing Employers NI savings to employees. This approach maximises pension growth while maintaining compliance with HMRC regulations for umbrella company workers.
Financial Planning
Parasol provides tailored financial advice through Caroola Financial Planning, covering SIPPs, income protection, and tax-efficient strategies. Our FCA-regulated advisors offer independent guidance on pensions, life cover, and investment options, helping contractors optimise their financial future beyond temporary assignments.
Questions
What is an umbrella company's role in contractor payroll?
An umbrella company acts as your employer, handling payroll administration, tax deductions, and HMRC compliance while you work on assignments through agencies.
How does Parasol ensure compliance with tax regulations?
As FCSA members with Cyber Essentials PLUS accreditation, we maintain strict compliance through automated tax calculations, real-time reporting, and regular audits.
Can I access employee benefits as an umbrella contractor?
Yes, you receive statutory benefits including paid annual leave, sick pay, maternity/paternity leave, and employer pension contributions.
How quickly will I receive payments through Parasol?
We guarantee same-day payroll processing when timesheets are submitted promptly, ensuring timely payments without delays.
What support do you offer for IR35-compliant contracts?
Our IR35 Business Impact Tool helps assess contract status, while our team provides guidance on compliant payment structures and tax implications.
How can contractors access financial planning services?
Parasol clients receive tailored financial advice through our Caroola partnership, covering pensions, tax strategies, and long-term wealth management solutions.
Reviews (4)
Mike Osborne
Nov 05, 2021
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Critical:Quality
NEVER AGAIN !!!!! Will I use Parasol ! NEVER get paid on time - NEVER get a response to on-line queries - NEVER should have used them after the abysmal experience with them 6 months ago. NEVER !!!!!!!
NEVER AGAIN !!!!! Will I use Parasol ! NEVER get paid on time - NEVER get a response to on-line queries - NEVER should have used them after the abysmal experience with them 6 months ago. NEVER !!!!!!!
Sathish Kumar Palanisamy
Oct 30, 2021
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I am struggling to find one good thing about this company. Very very poor quality of service. Here are some of many atrocities I faced:
Their employee support chat and email is a joke. Whenever you email the employee support they do not read what is already said and discussed on the same mail. I am not sure whether they can't see it in their system. So we have to give a summary of initial issue and all further conversations and it goes to different person each time. It also takes two days to get a reply so you can understand the pain of explaining everything every time and most probably their
Their employee support chat and email is a joke. Whenever you email the employee support they do not read what is already said and discussed on the same mail. I am not sure whether they can't see it in their system. So we have to give a summary of initial issue and all further conversations and it goes to different person each time. It also takes two days to get a reply so you can understand the pain of explaining everything every time and most probably their
Sam
Sep 16, 2021
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Parasol group shouldn't be given any star at all due to their poor customer service and contracts department. Without considering my ongoing visa application they have terminated my contract when I have received confirmation from UK Home office that my visa has been granted but have to wait 7 to 10 days for BRP to arrive. Also contracts department are the most useless team who cannot be contacted over the phone and reply late after 3-4 working days to the email sent. At all cost avoid Parasol even if they lure you with competitive offers.
J. James
Sep 16, 2021
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Please avoid at all costs if you are a freelancer! They still owe me a part of my wage which they messed up due placing me on a ridiculously high tax code (which was incorrect). They blamed HMRC for this but on investigation it was in fact Parasol. HMRC only knew about a portion of my wage. Apparently this was an anomaly but looking at the reviews, its rather common... please avoid for your own sanity! I wish I could give negative stars, but Google doesn't offer this yet!
