HMRC Warns About Tax Return Fraud Risk

People who own their own business or are freelancers have been warned to be careful when filling out their tax return, as there is a risk of fraudulent activity

HMRC revealed it dealt with more than 180,000 referrals of suspicious contact in the year leading to August 2022. Of this number, nearly 81,000 were scams saying they would offer self-assessment customers fake tax rebates. 

Director general for customer services at HMRC Myrtle Lloyd advised to never rush filing out a tax return. 

“If someone contacts you saying they’re from HMRC, wanting you to urgently transfer money or give personal information, be on your guard,” he stated.

Mr Lloyd reminded the public that HMRC will never threaten arrest for tax evasion, adding: “Contacts like these should set alarm bells ringing.”

HMRC reported that individuals have been contacted through e-mails, text messages and phone calls to gain access to financial details, whether by offering a tax refund or rushing the customer. 

As the self-assessment deadline for paper tax returns is at the end of October, HMRC warns people to be extra vigilant, as this is a prime time for fraudulent behaviour. 

The deadline is Monday October 31st, and those who miss this and have not registered for online tax returns will be liable for a £100 fine. 

People who use its online services have until January 31st 2023 to pay tax on their earnings for the 2021/22 tax year, as long as they are self-employed and earned more than £1,000, gained £2,500 from a rental property, have to pay capital gains tax, earned more than £10,000 from savings or shares, or took home over £100,000 in taxable income. 

For help with your taxes, call our small business accountants in London today.