How to Spot and Avoid Common Scams Targeting UK Small Businesses
Fraud is now the most common crime in England and Wales. According to the National Crime Agency (NCA), it made up 41% of all crime in the year ending September 2024, and only around 14% of cases were reported. Small businesses are regular targets because scammers know you are busy and deal with a lot of emails, invoices and official letters. This guide explains the most common scams and how to protect yourself.
Phishing
Phishing is when a scammer sends a fake email, text or link designed to get your passwords, bank details or other personal information. The messages often look like they come from HMRC, Companies House, your bank or a delivery company.
Be suspicious of any message that:
- rushes you or threatens you
- is unexpected
- asks for bank details or login information
- tells you to transfer money
- offers a refund, tax rebate or grant
Before you enter any login details, check that the web address ends in “.gov.uk” for government services.
Impersonation Fraud
This is when someone pretends to be from an organisation you trust, often by phone. It helps to know what the real organisations will never do.
HMRC will never leave a voicemail threatening legal action, threaten you with arrest or ask you to pay with gift vouchers. Companies House will never email or phone you to ask who your officers are, or to ask for secure information such as your authentication code.
If you are unsure, hang up and contact the organisation using the details on its official website.
Payment Diversion (Invoice) Fraud
A scammer pretends to be one of your suppliers and tells you their bank details have changed, so your next payment goes into the criminal’s account. Always check a change of bank details by phoning the supplier on a number you already have, not one given in the email.
Investment Fraud
Investment scams promise high returns with little risk, often involving cryptocurrency. If an offer sounds too good to be true, it usually is.
Protecting Your Company Record
If you run a limited company, two free Companies House services can help. The PROOF scheme stops paper filings of key changes, such as your registered office address or directors. The Follow service sends you an email alert whenever something is filed for your company, so you can spot anything you did not expect.
How to Report a Scam
- HMRC scam emails: forward to phishing@hmrc.gov.uk. Forward scam texts to 60599 (network charges apply).
- Companies House scam emails: forward to phishing@companieshouse.gov.uk
- Other suspicious emails: forward to report@phishing.gov.uk
- Scam texts and calls: text 7726 (free)
- Fraud: report to Report Fraud at reportfraud.police.uk or call 0300 123 2040
Note: If you have already sent money or shared bank details, contact your bank straight away.
For the most current information, always check the official guidance from the National Crime Agency and GOV.UK on protecting your company from fraud and scams.
When Getting Advice Can Help
Scams are becoming harder to spot, and a single fake invoice or email can be costly for a small business. You are not expected to be an expert, and getting professional advice can be very helpful.
If you would like calm, practical support, Penney’s Accountancy works with UK small businesses in and around Farnborough and the surrounding areas. We can help you put simple checks in place for paying suppliers, and keep an eye on your HMRC and Companies House records so anything unusual is spotted quickly.
Want to Learn More in Your Own Time?
For those who want to build their confidence and understand these topics in more detail, Penney’s Finance School offers an online, self-paced business and finance course. It covers everything from company setup to cash flow and tax, allowing you to learn at your own pace.
Important information
The information provided in this article is intended as general guidance for UK businesses only and reflects UK tax legislation and HMRC guidance as of September 2026.
Tax rules and business requirements can change, and individual circumstances vary. Before acting on any of the information above, we recommend speaking to a qualified accountant who can provide advice tailored to your specific situation.