Better safe than sorry
With the financial minefield that 2020 has been for many businesses, it's easy to forget that the scammers are still out there.
Only a couple of weeks ago one of our clients asked us to email the HMRC bank details to pay their personal tax bill - but the email we sent wasn't the one the client received. Fortunately, she double-checked and discovered that the bank account details had been changed.
Email scams
Email isn't a secure medium and it's relatively easy for a hacker to filter the emails landing in your inbox. Anything that has 'invoice' or 'bank' in the subject line can get picked up. Then they just change the bank details to their own account. Everything else looks the same - and most people wouldn't notice.
That's one reason we use a secure document exchange service wherever possible.
Here are our three tips to avoid email scams:
- Don't ask for sensitive information to be sent via email.
- HMRC has all their bank information on the .gov website (self-assessment, VAT, PAYE and Corporation tax are all different accounts - and all on the website - just search).
- Just because you've asked for information, don't assume the information is correct; double check the information by phone once you've received it.
This isn't the only way scammers use email. Any email stating you get a refund and appearing to be from HMRC is open to query. If it's unexpected, offers a refund, asks for personal details or is threatening - double-check.
Phone scams
The scammers are versatile - they don't just use email to get your money. It's not unusual for recorded messages or voicemail demands to be received - apparently from HMRC. These threaten legal action if you don't return the call immediately.
It's easy to feel uneasy about this kind of phone call. However, that isn't how HMRC operates. Firstly, they'll write to you, not phone you.
If you've appointed an accountant to deal with your financial affairs, HMRC will contact them in any case. Always check with your accountant before ringing back to any demands of this kind.
Scammers love January - because everyone is rushing to get their tax affairs in order - so they're half-expecting communications about their finances. Don't fall into their traps.