Employment Veil of Deceit to Get Round IR35
First and foremost Parasol are a payroll processor - despite the contract of "employment" which should really be a services contract.
Parasol, like the Agency who approached you about a contract, are in business for money and you, the contractor, bring in that money.
Payroll slip - never seen a breakdown like it, until I started using an umbrella. Why do we need a minimum wage line item.
The MyParasol functionality is limited, it doesn't show the assignment details in full i.e if you want to give notice on an assignment you have to email them, Parasol respond by saying they will check with the agency - pointless I can speak to the Agency.
Main contact with Parasol is arms length through email - they put every barrier possible to stop you being able to call someone.
Regulation in the Umbrella payroll sector is well overdue and the ills have been exacerbated by Off Payroll implementations.
The current cyber hacks on brands of the Optionis parent company, shine a light on poor practices within the Umbrella payroll sector, the accreditation is pointless as it is awarded by a body (FCSA) that Parasol is one of three founders of, the focus is on profit only (check involvement of Private Equity firms in sector and lack of IT security), communication is poor (during the cyber attack Parasol just closed down comments on social media) and contractors are just bodies/resources that generate income with limited employment rights (common across the Umbrella sector).
Parasol heavily pushed by the Agency.