The Institute of Chartered Accountants warns businesses to think twice before providing credit card information.

Businesses are currently being targeted with a fraudulent email pretending to come from HMRC, asking recipients to submit their credit card details to receive a tax refund paid directly into their credit card account. The bogus email is one of the most frequently reported fraud attempts to HMRC and is included in the list of existing fraudulent attempts on the HMRC website, but the ICAEW is concerned that many people might nevertheless be tricked into responding.

Frank Haskew, Head of the ICAEW Tax Faculty, said: “As people are getting ready for their summer holidays, many might think that they want to tick as many tasks off their to-do-list as possible, and might not read the email properly, making them vulnerable for falling into the hands of the fraudsters.”

“Alarm bells should ring when you are asked to submit your credit card details – this is information you should not give out to anybody. HMRC never asks for this information but fraudsters are becoming increasingly savvy and the ‘tax refund‘ document looks very convincing at first glance. However, it is a fake and I urge people to be alert and think twice before giving away any bank account or credit card information.”

If you think you have received a fraudulent email, HMRC advises you not to follow any links in the email, disclose any details or respond to it – but rather forward the email to HMRC at phishing@hmrc.gsi.gov.uk.