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Parasol umbrella celebrates tenth anniversay

Posted Apr 29, 2010

Umbrella company Parasol is celebrating its 10th anniversary this month, having serviced the needs of 37,000 contractors since it was formed.

The company has amassed some impressive figures over the past decade, ensuring the payment of £2.1bn in wages, handling over 173,000 contracts and 1.2 million timesheets.

In December 2008, the company also acquired ClearSky Accounting - a specialist accountancy service for contractors.

Commenting on the anniversary, founder of Parasol, Rob Crossland said:

"As a former IT contractor myself, I felt we had a good understanding of the industry's needs when we launched the business and the success of Parasol during the last ten years backs this up.

"The industry itself has seen some highly significant and far-reaching changes during the last decade, including the introduction of IR35 and the changes to MSC legislation, and we have worked hard to help contractors navigate through them. However, our aim has remained constant, to be the UK's favourite umbrella company by offering the highest levels of service and compliance.

"The next decade will be just as challenging as the Agency Workers Directive comes into effect, the impact of which remains largely to be seen. We also have a potential change of government, which could also impact on the professional contractor sector. Finally, the Freelancer & Contractor Service Association, of which we are a founding member, has begun to mature as an organisation and will continue to lobby on behalf of the industry and contractors, as well as work towards transparent and robust self-regulation.

"We believe that the flexible workforce in the UK makes an invaluable contribution to the UK economy and needs to be recognised accordingly. We are now looking forward to the next ten years, working with contractors in a wide range of industries and helping them to operate in a compliant, tax efficient way, giving them the peace of mind to focus on their latest contract and doing what they do best."

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