Along with Income Tax, National Insurance is deducted from your pay once you reach a certain threshold.
National Insurance can be deducted in a couple of different ways. As a permanent employee, it’s taken from your salary each time you’re paid (known as Pay As You Earn or PAYE).
The process is slightly different for a contractor, as they’re expected to work out their own tax and National Insurance. That is, of course, unless they join an umbrella company such as Parasol.
We’ll calculate your Income Tax and National Insurance for you, and deduct them each time you’re paid – so you can get on with what you do best. All you’ll need to do is submit your timesheets on our 24/7 online portal and we’ll do the rest, it’s that straightforward.
What else would I get if I joined Parasol?
A very good question! Not only would we take care of your tax obligations, you’d also receive all the employment rights and benefits “permie” workers enjoy – including holiday, sickness, maternity and paternity pay.
You’ll also have access to our My Parasol online portal, so you can upload your timesheets and expense claims with ease. What’s more, you’ll get a £20 million insurance package, so you know you’re covered if something goes wrong.
If all this sounds good to you, why not give our best advice team a call? Our dedicated experts are on hand to help with any queries you may have – so you can kick start your contracting career with ease.