a cutting tool for forming a hole in the wall of a plastic pipe has a body portion defined by a rear grasp portion and by a frontal portion . the frontal portion is provided at one end with a through going vertical passage which accommodates the cutting element therein and guides the cutting element . a frontal portion of the body has a mounting pin and the body has an upper compartment with a spring . a pressure handle enables pivotal displacement thereof between an erected position and a depressed position which enables forceable displacement of the cutting element from an uppermost position to a lowermost position and vice versa .