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Why is PCG doing this? |
The last few years has seen a significant growth in the number and scope of umbrella companies' activities, with many members and potential members asking PCG for advice on how to select an umbrella company that complies with the requirements of HM Revenue & Customs. It was a natural development, therefore, that as the leading representative body for freelancers, PCG should design and develop a new PCG "Quality" umbrella company scheme. PCG (QU) was developed and is being delivered in association with Parasol, one of the UK�s leading and most respected providers. |
How do I join? |
It's really simple - click here to register. |
What is an umbrella accounting structure? |
An umbrella structure provides a recognised and safe method of accounting as a professional alternative to personal service companies and sole trader arrangements. Under the PCG (QU) scheme, you will be a flexible�employee�of Parasol and as a consultant, work on its behalf on various assignments or contracts. You will normally source these yourself and then Parasol will provide all of the administrative back-up, career development and support to allow you to concentrate on the role in hand. |
How much does it cost? |
The deductions made depend on whether you are weekly or monthly paid:
In addition to this, you will also have the standard statutory deductions such as tax, National Insurance and any attachment of earnings that Parasol is instructed to take, such as student loans. If you have an additional payment in the same payment period that requires Parasol to recalculate and send a balancing payment again, they will deduct a supplementary fee to cover bank costs of �9.50 if weekly paid or �13.95 if monthly paid. |
What does it mean to be a flexible employee of Parasol? |
You cannot legally work within the UK without some form of employment contract. The employer stated on the contract has certain responsibilities and obligations. Parasol has a legally binding contract with the agency/end client to supply a person with certain skills to them in accordance with the contract terms. In return for the work that is performed, they will pay Parasol at a set rate of pay for an agreed period. The agency/end client do not want to assume the employment rights that would normally be associated with employing someone themselves to fill the role. Parasol on its part has agreed to assume the �employment rights� for that person. Parasol has �employed� you to fulfil that role, and you therefore have a contract of employment with Parasol. Being a flexible employee of Parasol does not restrict your work as a contractor, rather provides you are working in a safe and complaint way with respect of employment and financial legislation. |
Can I use your service? |
The only restriction on use of our service is that you are over 16 years of age and have the permission to live and work in the UK. As an employer, Parasol Ltd has the responsibility that the company in its entirety and all of our consultants as individuals abide by all current employment legislation. As such, to prove your eligibility to use the service, you will be asked to produce one of the following documents:
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What do I need to arrange to use your facility? |
When you register online for the facility you will enter some basic details, such as your name, home address and email address, which Parasol will use to send you an email starter pack. |
Do you Provide Professional Indemnity Insurance? |
The terms and conditions of employment with Parasol Limited state that you should be aware of your obligations in this regard as it relates to the contract that Parasol signs on your behalf. For contractors wholly engaged in an IT role, Parasol provides inclusive cover up to �3 million. Employers and public liability insurance is also provided as part of the package.
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If this is called the Quality Umbrella why are there so many references to Parasol Ltd? |
PCG has produced the Quality Umbrella, PCG (QU), in collaboration with one of the UK's leading umbrella payroll solution only provider, Parasol Ltd. PCG chose Parasol because of their expertise in the umbrella field and the track record of providing excellent customer satisfaction. |
Are my details secure? |
Parasol's Consultant Support web server uses the SSL protocol with 128-bit encryption and all personal information which you may submit using any registration or ongoing management forms on the Consultant Support website is encrypted and secure during transmission to Parasol. |
What expenses can I claim? |
Parasol Ltd operates a very attractive expenses policy that enables consultants using the PCG Quality Umbrella to claim genuine business expenses in accordance with HM Revenue & Customs Schedule E guidelines. Parasol Ltd does have an expense dispensation from HM Revenue & Customs and this helps streamline the processing of claims and year end reporting. It does not provide carte blanche to claim lots of expenses without receipts, which some umbrella companies advertise as a sales "feature".
You may also claim for training courses and some specific job specific hardware and/or software. Please refer to the user guide for more information. Other expenses should be claimed via your personal Self Assessment Tax Return. Parasol hopes to extend the type of expenses that can be claimed in the near future. |
What guarantees of service can you give me? |
A�service charter detailing the obligations of�Parasol is available to download. |
When do I get paid? |
Parasol Ltd pays your salary as soon as it receives cleared electronic funds from the agency or client. The payment from the agency or client directly relates to the invoice or timesheet (for self-billing) being processed by those organisations.
It is important that you understand the Service Charter terms for the above processes as there are circumstances where the typical timescales can vary (especially business cheques). |
Are there any hidden costs? |
There are NO set-up or termination charges. The Parasol administration deduction is completely inclusive. |
What is a CHAPS payment? |
CHAPS stands for Clearing House Automated Payments System. CHAPS payments are made directly into your bank account with no bank processing delays, so you receive your money on the same day that the transfer is needed. |
Are there any other restrictions to using your service I may not be aware of? |
The only other major issue may arise from your nominated bank/building society � Parasol has experienced problems sending CHAPS payments to the Woolwich and Bradford and Bingley Building Societies and as such would not recommend the use of this product if you bank with either of those two building societies. The majority of the other high street banks and building societies do accept CHAPS payments but if you are unsure, Parasol recommend you contact your bank/building society directly. |
Who am I employed by and what benefits do I get? |
Your employer will be Parasol Ltd � holiday pay is deemed to be included in your weekly/monthly salary and sick pay is available. Click here for a comprehensive list of benefits, which includes standard PCG membership (excluding Professional Expenses Insurance) as part of the package. |
What does "self billing" mean? |
Some agencies are described as being Self Billing.� This is an arrangement between the agency/end client in which they prepare the invoice and forward a copy to Parasol, rather than Parasol invoicing them. This means that as you enter your timesheet the agency/end client raise their own invoice to be billed each time a payment is made. � The main benefit of self-billing for both you and Parasol is the removal of the requirement to supply invoices therefore resulting in a more efficient payment process. You will however still need to enter timesheets on our website. |
When is my inclusive PCG Standard membership activated? |
Parasol will confirm to you by email that they have deducted your first weekly/monthly admin�cost and inform PCG, who will activate your Standard membership. PCG will provide confirmation via seperate email that your membership has been activated. |
What do contract breaches covered by "back-to-back" arrangements mean to me? |
Back-to-back contracts link the contract that is issued by the agency/end client with the contractor. Parasol accepts the terms of the contract issued by the agency/end client on your behalf, and you accept Parasol's terms and conditions of employment when you join.��The risk relationship between contractor and agency/end-client are detailed within the terms and conditions provided for you. Back-to-back arrangements grant you (contractor) with ownership of the contract and recognise you as an employee of Parasol. |
Why do I keep seeing references to PEI being excluded? |
PCG Standard membership includes Professional Expenses Insurance (PEI). This has been excluded from the membership package for the PCG�Quality Umbrella�as it�is designed for members operating their own limited company. In its place, PCG has arranged an exclusive Personal Legal Expenses Insurance Policy, available only to members of the PCG Quality Umbrella. |
What happens to my PCG membership if I leave PCG (QU)? |
Upon notification from Parasol, your PCG Standard membership will lapse. If your circumstances have changed and you wish to retain your membership of PCG, you will have the option to renew your membership at this stage and retain the same login details. Please contact the PCG to discuss. |
How do I make a claim under the Personal Legal Expenses Insurance policy? |
If you wish to claim under the Personal Legal Expenses Insurance policy you need to complete a claim form. A claim form is located within the Parasol�Consultants' Area. |
Where can I ask Parasol questions? |
You can contact the Parasol sales line on 0800 584 6000. Alternatively, please click here for more Frequently Asked Questions on the Parasol website. |
Can I join if I'm already a PCG member? |
If you are an existing PCG member and wish to transfer to the PCG Quality Umbrella, please call our administration department on 0845 125 9899 or email [email protected] |
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