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“Toughen Up” Say The HCPAC

In a recent meeting the HCPAC (House of Commons Public Accounts Committee) came up with two words…”Toughen Up!”

Who was these two words aimed at? HMRC (Her Majesty’s Revenue and Customs).

The meeting was a long meeting, there is no doubt about that, but the conclusion was short, and with those two words there has now been a chain reaction which could see many contractors and digital traders fall foul of HMRC.

According to HCPAC it is you, the average contractor, as well as thousands of digital traders who trade on platforms such as eBay and Amazon, who are avoiding their VAT (Value Added Tax) duties.

Could notorious tax hound (Philip Hammond) be the chief architect behind this new push for “more tax?” While he isn’t officially on the HCPAC, there are some experts out there who claim he is the one “pulling the strings.”

So the memo to HRMC is crystal clear…”Toughen Up” and crackdown on those tax dodgers who are depriving the government bank account of millions, and perhaps, even billions.

One pundit claims that somewhere between 1 billion pounds and 1.5 billion pounds worth of VAT is being missed out on, although it is difficult to know the exact figure until all the money is collected.

It could take a while, because as we know, many of these online eBay and Amazon traders fly under the radar and cover their tracks…avoiding their VAT duties, year after year.

Hard working contractors such as yourself…obviously YOU don’t avoid your duties and you do everything by the law.

You fill in your tax return and send it off on time, every time.

You get your tax bill and say “do you take a cheque? Every time.

You pay your National Insurance every time.

You pay your VAT every time.

The problem is that Philip Hammond will never stop, ever, until he has 100% of your income safely in the government bank account.

These new tax grabs are becoming more common, and as Mr Hammond becomes more sophisticated in his approach, he can easily pull the wool over your eyes and bring in new laws and regulations without any attention.

This is why you MUST hire a contractor accountant. Even if you are NOT a contractor.

If you are reading this news story and your business is trading on eBay or Amazon then you should also make it your main priority to hire an accountant right away.

Don’t delay, because Philip Hammond is on to you…which means you need to know how to legally pay less tax and beat him at his own game.

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