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Parasol leads the way with expenses reforms and urges others to follow suit

Parasol leads the way with expenses reforms and urges others to follow suit

Parasol, the UK's largest and most forward-thinking professional employment organisation, is updating its business expenses process in a pro-active step designed to protect its employees and further underline its commitment to compliance.

The company, which has employed more than 53,000 skilled professionals since its launch in 2000, is choosing to allow only statutory non-receipted allowance claims to be submitted by employees for food and accommodation.

Parasol has decided to introduce the process, and is urging other providers to follow suit.

Managing director Derek Kelly said: “Parasol has always led the market when it comes to compliance, and our mantra is to do what’s right, not what’s easy. The updated expenses process we are announcing today reflects that.

“We are choosing to make these changes for the benefit of our 8,000-plus employees, and in order to set an example for the rest of the industry. 

“In light of recent developments, we feel it’s only a matter of time before all round sum allowances are removed.

“We are therefore taking this opportunity to act pro-actively and decisively ahead of any announcements that could affect our industry in the 2013 Budget.

“We would urge other providers to follow our lead and implement a & lsquo;statutory allowances only’ model in order to ensure they are fully compliant.”

Parasol, a founding member of the Freelancer & Contractor Services Association (FCSA), is introducing the revised expenses system on Monday, 4th February.

Employees are being advised they will see some changes to the legitimate food and accommodation expenses that can be claimed without providing a receipt. There will be no change to Parasol’s current system of allowances for travel and other items.

The company is reassuring employees and other stakeholders that it has not lost its HMRC dispensation, which makes the administration of expenses claims slightly less burdensome.

“We have always advised our employees to keep all receipts for legitimate expenses incurred, so in that sense it will be a case of business as usual”, added Derek.

“I am confident our employees will welcome the new system as a sensible, forward-thinking step that will serve to protect their interests and those of the business as a whole.” 


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