Are Umbrella Companies Regulated?
If the reforms are implemented, public bodies and agencies would be responsible for deciding whether a contractor falls under the IR35 restrictions. The companies at the top of these comparative lists usually boast incredible salary figures and other benefits that are too good to be true. If you suspect that an umbrella company is acting illegally or unethically, you should report it. The Freelancer and Contractor Services Association (FCSA), which represents compliant umbrella companies, expressed disappointment at the government’s silence on an important issue to protect temporary workers.
What is an FCSA-accredited umbrella company?
Under the proposal, public sector organisations will be held responsible for determining the IR35 status of a contractor. When looking for a professional recruitment agency for your freelance work, you can search by company name or by accredited service. The FCSA has strict codes of conduct that each member must adhere to in order to successfully demonstrate that they provide services, advice and employment of the highest professional and ethical standard in the UK.
Is Parasol Fcsa accredited?
The FCSA’s previous stance of not allowing accredited umbrella companies to operate offshore structures is reflected in the marketing materials of several of its members, including Parasol, which has a turnover of £402.8 million, according to Companies House. PayStream’s umbrella company, My Max, is fully FCSA accredited and preferred by thousands of contractors in the UK. Based in the North West of England, Parasol offers a fully compliant employment solution under one roof, covering everything from taking care of paperwork to providing unrivalled employment support to workers.