Parasol putting up monthly fees from 5th Oct

[dx4100]

LOL - that's more than I pay my accountant

That about sums it up...

[MPwannadecentincome]

LOL - that's more than I pay my accountant

Ok but is it more than accountancy plus insurance fees?

[Alan @ BroomeAffinity]

Ok but is it more than accountancy plus insurance fees?

You're barking up the wrong tree. Assess how much better off you'd be if you were trading thru a ltd co as opposed to brolly.

[original PM]

You're barking up the wrong tree. Assess how much better off you'd be if you were trading thru a ltd co as opposed to brolly.

Been here before - this is not a choice often driven by money but more by lifestyle - e.g. do I want the (percieved) hassle of running a Ltd?

I would imagine though as much as this is a price rise to make more money(they are a business it is not a crime) I wonder how much of it is driven by trying to move people down the Ltd co route.

Parasols main business model at present is purely brolly - if legislation changes come in to make running that type of company either more hassle and cost or even illegal they would be out of business - if they can push their accounting packages then they no longer have all the eggs in one basket.

Does this now make them the most expensive brolly on the market?

[MPwannadecentincome]

You're barking up the wrong tree. Assess how much better off you'd be if you were trading thru a ltd co as opposed to brolly.

For those needing to go ltd co - you are right. For those happy to remain in a brolly being told continually the accountant costs less when the insurance fees have not been taken into account as well is simply misleading.

[Xtrain]

In over 20 yrs of contracting I have never once been asked for any insurance related documentation. I have also never heard of any professional indemnity claims that have arisen. So my annual insurance fees are less than Parasol's monthly fee!

[Bunk]

I agree it's not down to money really. I worked through an umbrella company for a couple of years before I took the plunge and decided I was going to contract long term. In terms of fees I pay £828 for my accountant and £172 for my insurance, comes to exactly £1000. That's definitely less than I was paying for the umbrella company (£28 a week IIRC) but it's not the reason I switched.

[MPwannadecentincome]

In over 20 yrs of contracting I have never once been asked for any insurance related documentation. I have also never heard of any professional indemnity claims that have arisen. So my annual insurance fees are less than Parasol's monthly fee!

Previously as a permie I was asked by Purchasing to get insurance documentation prior to signing any contracts with direct contractors.

I have had to provide documentation to potential USA clients.

[Carrington Accountancy]

Leading Umbrella Company

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[original PM]

possibly -

do you charge extra for insurance?

do you charge extra for CHAPS?

cheers