Protect Yourself from Tax Scams

Bosworth Wealth Management want to ensure you are aware of the increasing threat of tax scams and how to protect yourself.

What are tax scams?

Imagine receiving an email from HMRC about a £500 tax refund. It looks official and arrives at a time you expect. You click a link and enter your details, hoping for a refund. Unfortunately, it was a phishing scam, and instead of receiving money, you lose it.

The psychology of a scam

Scammers create urgency, fear, or greed to bait victims. They exploit emotions like trust and curiosity, making you act impulsively. They use key dates and economic crises to make their scams more credible.

Using technology to add authenticity

With AI and deepfake technology, scammers create convincing fake videos and audio messages. Always verify requests through a different communication channel before acting.

How to recognise and protect yourself from tax scams

Be wary of unexpected contact from HMRC or other organisations asking for personal information.
Verify the sender’s details and check authenticity directly with the organisation.
Do not engage with suspected scammers. Hang up, delete the message, or block the account.
Report suspected scams to HMRC, Action Fraud, or the relevant organisation.
Forward suspicious emails or texts to phishing@hmrc.gov.uk or 60599.

Stay vigilant and protect yourself from these scams. If you have any questions, please contact me.