Tag Archive | "Philip Hammond"

Income Tax Going DOWN 5p?

If income tax went down 5p, how much would you save? Many contractors would save thousands and be laughing to the bank.

If a guy called Dominic Raab wins the Tory leadership and becomes our next Prime Minister then this is exactly what will happen.

According to him, if he gets the keys to number 10 then he will immediately take action and make sure income tax goes down. To the tune of 1p a year, and in 5 years time that means a whopping 5p.

Many contractors are currently paying a basic tax rate of 20p. But if we are to welcome potential Prime Minister Raab into Downing Street then contractors around the country can break out the party hats and party like its 2019.

Now…I don’t want to point my hosepipe at this bonfire…but if you believe what I have just said then you will believe anything!

I’m sure Dominic Raab will say anything to get his mitts on the keys to Number 10. And once he has the power? He would sell us all down the river just like every other dirty lying politician.

Waiting…and waiting…and still waiting. That is what every contractor around the country would be doing if Dominic Raab becomes Prime Minister. You would be waiting for this “Tax Drop” and it would never happen. I guarantee it.

In fact, I would even predict that he would raise tax just like his buddy “Hammond The Henchman.”

Ah yes…”Hammond The Hermit,” we haven’t talked about him for a while have we.

If he isn’t trying to get every last penny out of contractors and self employed people around the country with Tax Grabs and Tax Raids every month, then he is just being generally incompetent or corrupt…just like the rest of the government.

Funnily enough, Philip Hammond was on the same TV show as Dominic Raab, and he smirked and chuckled at the idea of a 5p tax drop.

When asked for a comment…the Hermit replied…”“Fiscal responsibility is a core Conservative brand and spraying spending commitments and tax-cutting commitments around is playing fast and loose with the value of that brand.”

More “weasel speak” from Philip Hammond then. Designed to baffle and confuse and just generally irritate every one out there who has an ounce of common sense.

Listen: If you are a contractor and you want to pay less tax then forget about the government or a politician giving you a hand.

You have to take matters into your own hands…and it starts with hiring a contractor accountant.

The best contractor accountants know exactly how to get you paying less tax legally. So what are you waiting for? Look to the right hand side of the page, right now, and find your perfect match.

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34.6% Towards TAX!

Here in the UK we pay more tax than just about anywhere else. Wouldn’t you agree? It doesn’t get any better either, according to a new report.

A new report tells us that 34.6% of national output is going towards some form of tax. In other words, you are being hit in the pocket, again and again, year after year.

Especially contractors and freelancers. You are being made to pay more tax than just about anybody. And it isn’t going to get any easier, either.

A certain Mr Philip Hammond, the Chancellor of our country has only just begun when it comes to the subject of tax. He has his sights firmly locked on the contractors and freelancers of this country, and he wants more of your dough.

Does he want that dough to make a nice big pizza? Yes he does, but he doesn’t want to share any of that pizza. He wants it all to himself. He won’t even give you a bite.

The brand new report was commissioned by the Taxpayers Alliance, and what they found is that our tax burden is at its highest for 50 years.

Yes you read that right. Not since the swinging sixties have we had such burden. You would have thought by now we would be paying less tax, not more of it. But we are. They had it better in the seventies, eighties, nineties, and noughties, and here we are, right now, where the tax situation is worse than ever before.

Just what can be done to shove it to the likes of Hammond and his gang? Oh I don’t know…how about hiring a contractor accountant for starters.

If you are a contractor or freelancer and you are fed up with spending most of your money on tax then a contractor accountant is your perfect match.

They laugh at 34.6% tax.

“Ha Ha,” said the contractor accountant.

“I have to pay it,” you say.

“Not if you do exactly what I say, and with your permission, you now choose to pay less,” they will reply.

“Isn’t that kind of thing against the law?” you say.

“No it isn’t, there are many ways you can choose to legally pay less tax, we know all about them and with your permission we would like you to choose us to do it for you.”

You can find these knowledgable and trustworthy contractor accountants at this website. Simply look to the right of the page right now and see who we recommend.

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Do You Qualify for the “Age Tax?”

Everytime politicians get together there is one subject at the top of their list. Guess what it is? TAX…of course. What else? Nothing.

So it comes as no surprise when MP’s recently came together in the Houses of Parliament and decided to rain down more tax fury on the innocent contractors, freelancers and business owners.

Yes it is YOU. The victimised contractor who is in the firing line once again. And who is pulling the trigger…is it notorious tax hound Philip Hammond? Actually no. Not this time. Its a different guy. One you might not have heard of before. But I guarantee you will hear his name a lot more. That name is…

Matt Hancock!

This is the name of the Health Minister, and the same guy who has just announced something called…

The Age Tax!!

Mr Hancocks plan is to get you paying more tax (as if you were not paying enough already) and it comes under the name of the “age tax.”

Do you qualify to start paying this age tax? Well, if you are over 40 and you are a contractor, freelancer, a business owner or just self employed in general…then you might have to start paying BY LAW, very soon.

If Matt Hancock gets his way then this age tax will become compulsory, which means you won’t have any choice in the matter.

In fact, if you work for someone else or you have regular clients who you do jobs for…then it will automatically get taken out of your pay packet.

“Where did all my cash go?” You say to yourself when looking at your bank account.

But you know the answer…don’t you? It will be that age tax and all of the other tax these politician vampires try to suck out of you.

Why are they hitting you up with this “age tax,” anyway? The main reason is because the over 65s need more care, and of course, you will also be over 65 yourself, some day.

If you want our nations elderly to looked after, and you want yourself to be looked after when you get there…you should welcome the age tax with welcome arms.

That’s what Mr Hancock wants you to think. In reality, the truth of the situation is the government need more cash to plug up their sinking ship.

The Captain, Theresa May, is way off course, and doesn’t know her ankle from her elbow. Let’s be honest here.

The Vice Captain, Philip Hammond, has noticed the water seeping through the cracks and is doing anything in his power to stop that water. The more he tries…the more water comes through. He is swimming against the tide, although he doesn’t realise it.

The Cabin Boy, Matt Hancock, is up to his neck in water down below. He is now desperate, and in pure desperation has introduced this age tax.

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BREAKING: Hammond Strikes Again, “More Tax For Contractors”

I told all contractors to put today on their calenders. “Today is the day of the budget,” I told you all. “Contractors beware!” I added.

And beware you should have been, because as expected our notorious chancellor “Hammond the Henchman” has gone after contractors with a vengeance

“Hammond the Tax Hound,” is what contractors around the country are saying right now after hearing the chancellor speak at his yearly budget.

If you read this blog on a weekly basis then you will have known all about Hammond and his cronies. If you don’t read this blog, then you now know to READ THIS BLOG. It is the place to be for contractors to get all of the insider news and tips.

Back to Hammond and his budget and it seems he caught the scent of contractors in the private sector.

As you may be aware, contractors in the public sector have already been hit up for more tax and National Insurance. IR35 it was called.

Well, now Philip Hammond is calling for all private sector contractors to follow suit, which basically means…yes, you guessed it…more tax and National Insurance.

He is hitting YOU in the pocket and raiding YOUR bank account. There is nothing you can do about it but “grin and bear.”

Well actually there is something you can do. Something very simple and very effective and something that Mr Hammond would prefer you didn’t do.

What you should do is hire a contractor accountant. Hammond hates that. He dislikes contractor accountants very much.

Do you know why? Because contractor accountants save you money and help you pay less tax (legally of course).

This means less cash in the bank for Hammond and his overlords. He wants you to avoid contractor accountants at all costs so you are ripe for the picking.

There is nothing Hammond likes better than a fresh and juicy apple just plucked from the tax tree.

“That tastes good,” he says, before going back to counting the money he is raking in from you the innocent contractor who is just trying to make an honest living and be treated fairly.

At this point I think you have reached a crossroads. Its obvious that Philip Hammond is going to keep on taxing you left, right, and centre, year after year, until you barely have enough money to pay for a Big Mac.

So now you have a decision. Go left and forget about the whole matter. Keep on paying the “Hammond Tax” and hope you can send your kids to the best university.

Or turn your attention to the right side of the page. Look right right now and turn right. There are the best contractor accountants in the UK. They are right there. Click on one and fight back against this tax madness.

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Hammond The Henchman

Our Chancellor Philip Hammond has been quiet recently, hasn’t he? That tax grab of his last year FAILED, but I predicted he would be back.

And back he is…with a vengeance!

Right now, as we speak in October of 2018, it has just been reported that Philip Hammond is planning a fresh tax grab on our nations self employed.

That includes contractors and freelancers. Nobody is safe from this guy.

Experts are claiming that all will be revealed during the upcoming budget, which will happen later this month.

That is the day he comes out from his bunker with his briefcase, and smiles for the cameras. Although when you look into his eyes you a see a different story.

It is the story of a man who has spent the last 12 months plotting and scheming. His barely contained rage against his failed tax grab has bubbled to the surface, and now it is pay back time.

There are some who claim that Philip Hammond is not the main Don in this gang. Those people claim that Hammond is merely a henchman and it is others who pull his strings.

Maybe they are right or maybe they are wrong, but what I do know is that when “Hammond The Henchman” goes after our nations self employed at the end of the month, there will be uproar in the streets.

Signs will be printed…people will take to social media…and there may even be a drop in support for the government in the polls…but…this time Hammond is expected to push the tax grab through and have his way.

The new tax grab is expected to bring in an extra £1.2 billion pounds a year. It goes straight out of your bank account and directly into the government bank account.

Hammond is no doubt rubbing his hands at the thought of all that cash, and once he has done his “sneaky” grab he is expected to return to the bunker and not be seen again for another 12 months.

So what can you, a hard working and law abiding contractor do about it? Should you get on the streets in protest or even leave the country and look for a tax haven?

My advice is stay where you are and be smart about the situation. If Hammond wants to do another tax raid then you need to be prepared, and the best way to do that is by hiring a contractor accountant.

Most contractor accountants have seen this tax grab coming a mile off, and they have already worked out ways you can avoid getting slapped in the face after the budget.

“Pay less tax (legally),” is the motto of our recommended contractor accountants. Contact one of them right now and see what they can do for you.

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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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More People Self Employed than on Minimum Wage

While the exact figures on self employment in the UK are not known, it is estimated to be around 5 million people…more than on minimum wage.

Compare this to 10 years ago where around 3.5 million were self employed, but nearly 5 million were on minimum wage. It just goes to show that working for yourself is the place to be, rather than putting up with some stupid boss and getting paid barely anything.

They are even saying that by 2021 there will be more people self employed than working in the public sector, which doesn’t surprise me at all when you consider how the government treat many of their workers.

Despite all of these encouraging statistics and the fact that many self employed people are taking to the internet to say how great it is…the government are not that convinced, and instead, they are now saying that many people that go into self employment are “reluctant” to do so.

Yes you read that right. Here we are in a day and age where your average man or woman can wake up, go to their kitchen table and turn on their laptop and then spend a few hours “working” before going to mow the lawn or have a session down the gym, but according to the experts in the government this is wrong and more should be done to get people back into employment, and back on minimum wage no doubt.

You know, I just think some of these MPs and government workers have it in for the self employed. Maybe they are jealous? Who knows what the reason is.

Firstly, they punish their own self employed contractors, bringing in the IR35 changes that meant public sector workers ended up paying more tax.

Then Philip Hammond went on the attack against every self employed person in the UK, demanding more tax and National Insurance payments, before back tracking only a few days later after massive outrage from just about everybody in the country.

Now, it appears that many in the government want to get the self employed back into traditional employment after they have decided that most people are “reluctant.”

Yes I’m sure they are very reluctant to earn more than minimum wage while setting their own hours. Very reluctant indeed.

Every time I read one of these new news items, reports, or statistics from the government I generally give it a quick glance over before chucking it directly into my bin.

Why can’t we hear good stories about self employment, instead of the usual rubbish? I doubt anything is going to change though.

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77% Say – “Tax the Wealthy!”

A recent survey of the UK public gave us some interesting insights, with the average man and woman making their thoughts clear…”tax the wealthy!”

In the survey, which took place on the streets around our nation, the public were asked if they thought a return to the 50% income tax rate for people earning over £150,000 a year was something they would like to happen.

Well, 77% said “yes,” which just goes to show you that not everybody is in favour of less tax for all.

Many believe that by taxing higher earners 50% of their wages, it would go a long way in balancing the books and helping the government get their finances in order.

I agree that many in the government need to do more to sort out the financial state of this country, especially with Brexit just around the corner, but is more tax really the way to do this? In my opinion, no.

It was only recently of course that Philip Hammond announced his plans about more tax for the self employed in his budget speech, only to then back track a few days later after public outrage.

I think there is people out there who should be taxed more, such as those Billionaires who get out of paying tax altogether while relaxing on their luxury yachts, but I don’t think that hard working people who just happen to earn more should be punished.

Many people seem to believe that there is some kind of balancing act when it comes to tax, and that if those who are wealthier are taxed more, then workers on lower wages will pay less. This isn’t the way it works though.

The problem is quite simple…the government are not very good at using the tax they get. The solution is not to tax more, it is to better manage what is already going through the system.

Taxing 50% to workers who earn £150,000 a year or more isn’t going to make any difference at all, and although it makes a good headline it doesn’t really change anything.

I don’t think we are going to hearing about any tax changes for the wealthy in the near future, as I reckon the Chancellor is going to stay away from that subject for a while.

If you are a contractor who earns £150,000 or more a year, then my best advice is to invest in a contractor accountant.

Don’t listen to the general public and their surveys and think you are obliged to pay more tax for the good of the nation. No way. Instead, get a contractor accountant and see what they can do for you.

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Philip Hammond Suggests Britain Could Become “Tax Haven”

Here is something we all thought would never be said by a member of the government, the Chancellor Philip Hammond said Britain could become a tax haven.

Just imagine all those multi-millionaires and billionaires leaving Monte Carlo and arriving in Dover on their super yachts.

So why the sudden low tax comments from Philip Hammond you might be wondering? Well, it all comes at a time when Britain is trying to negotiate an exit from Europe, and as you might expect, many of our European neighbours are not too pleased about our departure, which means they are going to make it difficult for us.

In response, our Chancellor has suggested that we could lower income tax in the UK, which means many of the richest people in Europe would be tempted to make a move here.

It’s an interesting strategy for sure, but one I think wouldn’t actually be brought into reality. No doubt the millions of contractors and self employed people in the UK would be really pleased at the news of less tax to pay, and all of the contractor accountants would have more business than ever before with the European super rich entering our shores…but it just isn’t going to happen.

We are currently at a time where everybody is doing a lot of talking, but when it comes down to it Brexit will happen and there won’t be anything significant that changes. That is to assume that the UK will leave the European Union of course, and even if they do, what kind of exit it will be.

Let’s not get into the small details on this blog though, all we really care about is how this all affects contractors and the self employed.

As I’ve talked about before, I don’t believe that UK contractors have anything to be concerned about at all, and in actual fact they should find more work than ever before.

This is because there will be more demand for their services and all major companies are planning to stay in the UK, particularly cities such as London.

Don’t worry, that company who you currently get a lot of work from isn’t going to suddenly get up and move to Paris. The message is clear…companies are staying in Britain.

Right now we are waiting on a speech from the Prime Minister Theresa May, as she talks about the plan for Britain to be out of the European Union at some point this year. Many experts agree that the process should start around the end of March, although who knows for sure.

My advice to contractors is simple, just get on with what you do best…offering your skills and finding new clients. If Philip Hammond wants to make Britain a tax haven even better.

What about you contractor accountants out there…are you soon to be doing the accounts of the European super rich? I don’t think so, although you never know.

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Philip Hammond Launches Stunning Attack on Contractors

Everybody thought the Autumn Statement from Chancellor Philip Hammond was going to be good for contractors. How wrong they were.

Instead, Mr Hammond went on the attack towards contractors and the self employed, saying they are costing him and the government $4 billion a year.

In my opinion this just goes to show how out of touch someone like Philip Hammond is with what is really going on in this country.

Right now we have 5 million hard working British people who classify themselves as self employed. Many say it is these people that keep the economy going, especially during those times when the country needs stability…like right now.

That’s why many thought the Autumn Statement was going to be favourable towards self employed people in general, but no, all we hear is negative statements such as how contractors and the self employed will cost the Treasury £4.5 billion every year by 2020.

There is no mention of the benefits and good points of having so many enterprising people in the UK. It’s always the negative, and that is why Philip Hammond and many people at the government don’t have a clue if you ask me.

He went on to talk about “cracking down” on ordinary hard working Brits who he thinks are not paying enough tax.

This all comes at a time of course when the UK are borrowing more money than ever before, with the national debt somewhere in the region of 2 trillion pounds. Funny how Philip Hammond never talks about that or how the country got into a position where it owes that kind of money.

It’s always about how can they get more money out of the ordinary man and woman on the street, so they can continue to go about their business of running the country…badly.

The fact of the matter is that more people than ever before are turning towards self employment, especially now that it is easy to work from home. Millions are deciding to trade the office lifestyle for a laptop.

Unfortunately for the government, this means they are losing out on tax, because a self employed person typically pays slightly less than someone who is employed but makes the same amount of money.

Well, it seems that Philip Hammond doesn’t like this one bit, and if there is one message we can all take away from his Autumn Statement it is this…if you are a contractor, freelancer, gig worker, or own your business, he wants more money from you. Simple as that.

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