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For a successful business, you need a viable business idea, the skills to make it work and the funding. Discover whether your idea has what it takes.

Forming your business correctly is essential to ensure you are protected and you comply with the rules. Learn how to set up your business.

Advice on protecting your wellbeing, self-confidence and mental health from the pressures of starting and running a business.

Learn why business planning is an essential exercise if your business is to start and grow successfully, attract funding or target new markets.

It is likely you will need funding to start your business unless you have your own money. Discover some of the main sources of start up funding.

Businesses and individuals must account for and pay various taxes. Understand your tax obligations and how to file, account and pay any taxes you owe.

Businesses are required to comply with a wide range of business laws. We introduce the main rules and regulations you must comply with.

Marketing matters. It drives sales and helps promote your brand and products. Discover how to market your business and reach your target customers.

Some businesses need a high street location whilst others can be run from home. Understand the key factors from cost to location, size to security.

Your employees can your biggest asset. They can also be your biggest challenge. We explain how to recruitment and manage staff successfully.

It is likely your business could not function without some form of IT. Learn how to specify, buy, maintain and secure your business IT.

Few businesses manage the leap from start up to high-growth business. Learn what it takes to scale up and take your business to the next level.

Taxpayers warned about fake HMRC messages

23 January 2024

As the 31 January self assessment tax deadline approaches, Brits are being urged not to fall for phishing emails, calls or texts that purport to come from the UK tax body HMRC.

A large number of scam texts, emails and phishing calls have been doing the rounds, claiming to be from HMRC. The fake messages claim that the recipient either owes money, is owed a refund from HMRC or needs to update their details. The messages invite recipients to click a link with the aim of extracting their personal information in order to steal money.

According to research by NatWest, fake emails, calls or texts which claim to be from legitimate organisations are the most common type of scam in the UK. The next most common are "trusted organisation scams" - 21% of Brits were targeted by a criminal impersonating a trusted organisation like HMRC in 2023.

According to Takepayments, HMRC has already received more than 130,000 scam reports this year and efforts from scammers are only set to escalate as the tax return deadline draws near, especially fake messages about tax refunds.

Takepayments offers this advice to avoid being scammed:

  • Always treat unexpected text messages about finance as suspicious, especially if the language encourages urgency. Although HMRC does use text communication, it will never request payment details by text or email. Never send money via bank transfer or PayPal to unknown sources.
  • Scammers often use broken English or make grammatical mistakes within their texts. This could be a giveaway that a message or email isn't legitimate.
  • Trusted bodies like HMRC won't usually send official communication from a mobile number. Always check the number the message has come from; if in doubt, use a phone number look-up service online. If the number begins with 07 or is withheld, treat it as suspicious. The number "60263" has been closely linked to fraudsters impersonating HMRC.
  • Some fraudsters are using AI to produce automated calls, warning about tax evasion. Scammers often use background sounds to give the impression they are calling from a call centre. However, if these sounds seem looped, overly consistent or don't match the context of the call, they could be artificial.

If you think a message seems suspicious, contact HMRC directly; do not reply to the text or email itself. You can help fight fraud by reporting suspicious emails to HMRC using [email protected].

Have you filed your tax return yet?

With only one week to go until the 31 January self assessment deadline, HMRC reports that 3.8 million people have yet to file their tax return.

Myrtle Lloyd, HMRC's director general for customer services, said: "If you are a self assessment taxpayer, now is the time to take action and get your return done. Once a tax return is submitted, it's easy to find out what's owed and to pay online or using the HMRC app."

The penalties for late tax returns include an initial £100 fixed penalty, which applies even if there is no tax to pay, or even if the tax due is paid on time. Anyone unable to pay in full (that owes less than £30,000) may be able to set up a Time to Pay arrangement online.

Anyone who thinks they no longer need to complete a tax return for the 2022 to 2023 tax year should tell HMRC before the deadline on 31 January 2024 so that they can issue a withdrawal notice.

Written by Rachel Miller.

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