Be careful who you take tax tips from on social media – Scams and poor advice are everywhere

The internet holds virtually all human knowledge, and for many people social media is the main way they spend their free time. 

The problem is that those platforms give the same level of importance to flat-earth theories and reptile conspiracy memes as they do to serious debate and cute cat videos.  

When dealing with something as serious as tax guidance, you’ve got the makings of some costly mistakes.  

We want to help you spot the dodgy advice that circulates online so that you and the people you know don’t end up paying the price. 

Why online tax tips should make you wary 

Poor guidance from social media channels is increasingly spawning dubious tax returns, which can in turn be viewed in the same way as fraudulent claims, resulting in expensive HM Revenue and Customs (HMRC) enquiries.  

It takes very little for someone to switch on their phone, adopt an air of authority and talk confidently about something they scarcely understand.  

If you need a taster of how persuasive and off-base this can be, look up any heated film debate online and see how quickly strong opinions drown out sound judgement.  

The sensible default with tax content on social platforms is scepticism.  

Check who’s speaking and find out whether they are from a reputable firm. 

Is their material supported by experts and guidance, and do they hold professional memberships that you can verify on public registers?  

If a sweeping claim is made, dig for the source, as the referenced advice should normally be accessible somewhere else online.  

Whenever you are unsure about tax advice, it is best to consult a trusted professional before taking any action.  

How to avoid being misled 

Never rely on the advice from a social media post alone.  

If you come across any tax advice, be sure to save screenshots and links, and ask the poster to set out their reasoning in writing.  

If the influencer is a genuine expert, they should have no problem explaining the methods and sources.  

Before you adopt any tax strategy, run the numbers with qualified software or discuss the model with an authorised adviser.  

If you do follow a tip and later face an enquiry, having a clear paper trail makes resolving the matter much simpler.  

It also helps expose misinformation, protecting others.  

If you suspect a post is a scam, report it straight away as HMRC asks people to flag suspicious emails, texts and social accounts so they can be removed. 

What to do if you’ve already taken bad advice 

The best thing you can do if you have already taken bad advice is to act quickly. 

Rather than waiting to get caught out, you should work to resolve the mistake as soon as you can. 

Correct or amend the return and, if appropriate, make a voluntary disclosure, as doing so promptly usually reduces penalties.  

If HMRC gets in touch, reply without delay and provide the evidence that shows you acted on an online source.  

That won’t erase the issue, but it can lessen the financial impact and will serve to get the influencer investigated by HMRC. 

If the situation feels out of control, use formal complaint channels or appoint an authorised agent to represent you, as regulators and independent adjudicators exist to ensure fair treatment. 

Short, punchy social posts can be persuasive, but they aren’t a substitute for professional guidance.  

Make a habit of checking anything tax-related you see on social media before you act on it.  

If you’d like us to vet an online tax tip for you, we’re happy to help, so feel free to speak to us, and we’ll talk through whether it’s a sound piece of advice or a scam. 

Don’t let social media scams sabotage your finances. Speak to our team today!