A few weeks ago, Parasol, a leading umbrella company, was struck by a cyber-attack that caused severe issues to the company’s operations. Now, it appears the impact of the attack remains, and angry employees have taken to Twitter to share their displeasure. The last public update from Parasol was well …
There is a common misconception that umbrella companies are raking it in. In reality, the only income that umbrella companies generate is the margin they deduct in exchange for the administrative payroll service they provide. Find out more about how umbrella companies make money in this article. What is an …
Okay, so we’re a little late to the party regarding sharing this article. However, we know that many umbrella company representatives visit our website for helpful information and we have decided it would be irresponsible of us not to share this very informative article. Written by the team at My …
The entire umbrella company and contractor accountancy sector has been shaken by multiple cyber security attacks that have had devastating consequences. This article examines the cyber-attacks that have targeted umbrella companies and contractor accountants, including Giant Pay, Brookson, Parasol and SJD Accountancy. September 2021 – Giant Pay On Friday 24th …
Another brand under the Optionis Group, SJD Accountancy, has also been hit by cybercriminals. Earlier today, we wrote an article about a similar threat faced by Nixon Williams – contractor accountants within the Optionis Group. Here is what we know. Two Optionis brands, Parasol (umbrella company) and Nixon Williams (contractor …
“Key systems” at SJD Accountancy impacted by cyber security incident » Read the full story
2022 has already been a very stressful year for several leading umbrella companies that have been subjected to malicious cyber threats, including Brookson and Parasol. Now, it appears another leading umbrella company and contractor accountant has been targeted by cybercriminals – Nixon Williams. We’ve found an update on the Nixon …
If you’re new to umbrella companies, you will probably have many questions about how they work and process your payroll. Our Team has put together a complete guide to umbrella companies, and it sets out to answer all of the most commonly asked questions about umbrella companies and how they …
Download our complete guide to umbrella companies » Read the full story
Brookson, a leading UK-based umbrella company, had been hit by a cyber-attack this week that’s caused a temporary halt to services. Astonishingly, Brookson is not alone. Parasol, another well-known umbrella, has also been targeted recently, and Giant Pay was heavily impacted by cyber criminals last year. The Freelancer and Contractor …
The FCSA responds to recent cyber-attacks targetting umbrella companies » Read the full story
Umbrella companies are continuing to be targeted by cybercriminals. Last night, one of the UK’s leading umbrella companies, Brookson, was struck by an “aggressive attack”. Thankfully, a company update from CEO Andrew Fahey (shared on Brookson’s business LinkedIn profile) confirmed the systems in place were able to “contain the impact …
Sadly, the threat of umbrella company cloning doesn’t appear to have faded away. Instead, it remains a severe danger to the industry. If you work for an umbrella company, you must understand what umbrella company cloning is to protect your own business. But it isn’t just umbrella companies that need …
Umbrella company cloning remains a serious threat to the sector in 2022 » Read the full story
One of the UK’s best-known umbrella companies, Parasol, has experienced a “system outage”, which has resulted in late payments to umbrella employees. Here is what we know – keep reading to find out more. Scroll down for the latest developments. Parasol is “working tirelessly” to resolve a “system outage” In …
The government has opened a consultation into the umbrella company marketplace, and it is seeking assistance from contractors, payroll providers and industry stakeholders. If you use an umbrella company or have feedback that could help the government, you’re being encouraged to participate. The more participants, the better the government will …
The Freelancer and Contractor Services Association (FCSA) has confirmed that Chris Bryce is taking over as CEO (previously the CEO at IPSE), replacing Phil Pluck. Keep reading for more information about the change in CEO and a brief introduction to the FCSA’s new leader. Farewell to Phil Pluck, and a …
The FCSA welcomes Chris Bryce as new CEO » Read the full story
Towards the backend of 2021, the government released several pieces of guidance about umbrella companies to help the supply chain and temporary workers remain compliant with HMRC’S rules and regulations. The government also launched a consultation that seeks assistance from those who have used umbrella companies in the past. It …
Will the government regulate umbrella companies in 2022? » Read the full story
If you’re interested in using an umbrella company for your payroll, you may be tempted to identify the cheapest umbrella company in the marketplace and use them. However, is this a good idea? This article explains why you need to consider more than just the umbrella company’s margin before you …
Is the cheapest umbrella company the best option? » Read the full story
There is no hiding from the fact that changes to IR35 (off-payroll) have resulted in more unscrupulous tax avoidance schemes targetting workers who require umbrella payroll (PAYE). It’s disappointing to see. While most umbrellas are UK based and fully compliant with HMRC’s rules and regulations, some are preying on vulnerable …
