The Danger of Fake Tax Scams
HMRC Alerts Public on Fake Tax Rebate Scams(PHOTO: GOV.UK)
HMRC’s Vigilance Against Fraud
According to IFC, as we near the end of the 2022-23 tax season HM Revenue and Customs (HMRC) is warning people about a rise in fake tax refund scams. Over 200,000 suspicious contacts have been reported so it’s crucial to be careful and informed to protect your money. HMRC wants you to know they never ask for refunds through email, text, or phone calls. Cybercriminals are taking advantage of the internet by creating fake websites and sending scam messages to trick people into giving away personal information or bank details. These scams can be very convincing and can cause a lot of financial problems if you fall for them.
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In addition, HMRC is working harder to stop people from cheating on their taxes, with a focus on transfer pricing audits. The International Tax Manual and upcoming Guidelines for Compliance give us an idea of what they’re looking at. They’re paying attention to specific industries unusual changes in income and cases where the numbers don’t match up between tax returns and other documents. If there’s a problem they’ll look at your income, expenses, and bank accounts. If you’re a big business that works in multiple countries you need to be extra careful and make sure everything is in order to avoid problems with HMRC.
Protecting Your Business Interests in the Face of HMRC
To be ready for any issues with HMRC big businesses should keep good records make sure their reports are accurate and get help from experts if they need it. If you’re being investigated by HMRC you should know your rights and ask for proof of any claims they make. Therefore, it’s up to everyone to be careful and follow the rules so we can all have a fair tax system.
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