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UK Contractors Are “In The Line of Fire” – Yet Again!

Regular readers of this blog will be well aware of the vendetta against ordinary and hard working contractors. They are always “in the line of fire.”

How so? Well, it’s all about a certain Mr Philip Hammond and his Treasury gang that are constantly trying to grab tax from under the noses of our nations self employed.

These so called “tax grabs” have caused national outrage in the past of course. Who can forget when Mr Hammond tried his last tax grab? Millions took to the streets and social media in protest.

This led to Mr Hammond backing off and lying low for a bit. In the shadows where he couldn’t be seen, but now, it looks like he is ready to strike yet again.

How much is he looking for this time? It’s estimated he wants £1.2 billion pounds, and it is the contractors, freelancers, small business owners and gig workers of the UK who are going to foot the bill.

Some experts are calling his recent tax grab attempt just a bit “sneaky” and “crafty,” because he launched his latest raid under the cover of…The Royal Wedding.

That’s right. On Saturday while millions sat around their television sets and watched Harry and Meghan get married there was one man who wasn’t enjoying the festivities.

Philip Hammond was not on the guest list, and he was not watching it on the TV. Instead he was in a top secret meeting in an undisclosed location, pushing forward a bill that will affect almost 5 million people around the country.

While millions were cheering the royals as they arrived at the church…Mr Hammond was signing his name to the bill that many would say is a declaration of war against the self employed.

Then, while Harry and Meghan were walking off together as husband and wife…Mr Hammond was enjoying drinks and high fives with his treasury buddies. They were not celebrating a new royal union, oh no, they were celebrating a new tax grab that will probably go through unopposed

Last time the main mistake Mr Hammond made was that he announced his plans and gave contractors and freelancers time to rally together and fight back.

This time around there will be no fighting back.

So, contractors who are reading this right now, just be aware that you are going to be paying more tax over the coming months and years.

You might not see an immediate impact, but with these new secret weapons from the Treasury and a kind of warfare that is no longer set forth on a level playing field…well, you don’t really stand a chance.

The only way is to limit the damage. They call it damage limitation and that is something a contractor accountant can help you with.

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