ParasolIT take-home estimation

[jor-el]

Ok, a decsion has been made (kind of...)

I'll start with Parasol for a few months and take it from there.
Btw, from reading past posts I learned that Parasol had a dodgy upgrade to their systems a few months ago. Those of you who use them - is it all clear now?

I'm just trying to see how well I fit the contracting world before I start my own ltd. From the very little time I spent here, I learned that:
A. Go LTD
B. If not use a decent umbrella and Parasol seem to be OK from the feedback I read here.
C. Go LTD

So..I will go LTD after a couple of months of carefully checking out the waters. What can I say, I like to play it safe. Permie jobs will always be there...

OK, so...if anyone has anything against this decision may you speak now or forever hold your peace

Anyone care to hold my hand? malvolio?

[malvolio]

It's a catch-22 really - most people on here will help if you asked focused or non-obvious questions, but as a newcomer you won't necessarily which they are! The other rule of contracting is that you stand alone, so asking for other people to answer things where the answer is already well known and published tends to get short sharp replies.

Your plan of attack now is (a) read the guides, browse these boards and learn how the market works, (b) forget all your concepts of work, you are not an employee of anyone you are a service provider, (c) look carefully at the PCG (www.pcg.org.uk) and join them - perhaps their new One-Stop will help and (d) have fun.

Hand holding is not an option, if you need it you're in the wrong job. Expereinced advice and guidance is always there if you ask! Enjoy...

[Board Game Geek]

learned that Parasol had a dodgy upgrade to their systems a few months ago. Those of you who use them - is it all clear now?

Yes, business as normal.

[wendigo100]

Good advice from malvolio.

Some people seem to have a problem with running a Ltd Co, but it really is easy. You find a local accountant to help set you up and do your annual returns, but everything else only takes an average of half an hour a month, less most months.

[ar786]

Hi, another newbie here:

My situation is as follows:

I have been offered a contract directly from a consultancy who are working for a telecomms company. Now the question is, do I still need to go through an agency? or can I go directly through an umbrella company such as Parasol? I don't understand why an agency should take a % of my income if they didn't even find me the contract! Apart from finding work for contractors what other services do they offer for the % they deduct?

[VectraMan]

I have been offered a contract directly from a consultancy who are working for a telecomms company. Now the question is, do I still need to go through an agency? or can I go directly through an umbrella company such as Parasol? I don't understand why an agency should take a % of my income if they didn't even find me the contract! Apart from finding work for contractors what other services do they offer for the % they deduct?

You can go direct.

However, one advantage to agents is that they will pay sooner. Typically if you go direct you'd work a month, invoice for that month, and receive the money 30 days later (and payment terms can be longer). Most agents will pay up within a week of invoice, and if you arrange to be paid weekly then you don't have to wait long until the money starts coming in. That's a less of an issue when your business has been going for a while, but it does mean the agent is taking the bulk of the financial risk instead of you.

And in theory they'll act on your behalf if you have any dispute with the client, and will do their best to negotiate the best rate for you. In reality, agents cause more problems than clients, and if they negotiate a better rate they may not tell you about it and keep more for themselves.

You might also find some clients will insist you work through an agent even if you found the work by yourself.

[jor-el]

You might also find some clients will insist you work through an agent even if you found the work by yourself.

Indeed. I worked as a permie in a consultancy and we did have some contractors forced to go via an agency. For you it means a lot less cash as the client will pay the consultancy who will take their (big) cut, then will pay your agency who will take their cut. Then they will pay your umbrella who will take their cut, then it'll go through the whole tax man huge cut and then you'll get your share.

My advice - use consultancies only if you want to break into a certain market or need some cash urgently. They are just another leech in the very long line of leeches living of your work.

[lilfreckles]

[Or go for PCG One-Stop (your own company) or PCG QU (umbrella option) and get honest answers, against which you can make informed comparisons.]

Hello!!!!!! If you go to the PCG website it says that their quality umbrella they recommend is Parasol. So why are you slagging them off??????