v BRINGING THE GOOD NEWS TO YOU SINCE 1994 v 26th January 2023 • The HERALD • Page 63 ASK A PROFESSIONAL YATES & CO Chartered Accountants Specialists in providing accounting and taxation advice to small businesses and individuals Contact: Colin Yates A.C.A. Telephone: (023) 8086 1550 E-mail: enquiries@yatesco.co.uk Personal and Friendly Service Around half of UK adults (51%) have or know someone who has received a suspicious communication in the last 12 months, according to new research. is equates to 27 million people across the UK. Most of these cases happen when a fraudster attempts to imitate a legitimate company to secure important information from the victim. PENSION TRANSFERS - Crypto scams are also becoming worryingly common, with one in ve reporting they or someone they know has received one in the last 12 months. Pension transfer scam communications account for almost one in ten (8%) of contacts. SCAMMER APPROACHES - Around a h (21%) of those who have or know someone who has been contacted say they have lost money because of approaches by scammers. PERFECT OPPORTUNITY - With many families struggling to make ends meet, and as the cost of living squeeze tightens, o ering easy access to your pension might seem the perfect opportunity to dig yourself out of trouble. Simply walk away, hang up or delete the email or text to keep your money safe from the scammers. SOME TIPS TO HELP IDENTIFY AND AVOID FINANCIAL SCAMS 1. If you receive an o er to help you access your pension savings before age 55, for example, through ‘pension loans’ and ‘free pension reviews’. It is only possible to access your pension before age 55 in rare situations, for example, if you are very ill. 2. Warnings that the deal is limited and you must act now. is is a pressure tactic and making any nancial decisions should not be done under pressure. 3. HM Revenue & Customs (HMRC) will never contact you by email, phone or text informing you of a tax refund, so simply delete or ignore any contact made this way – HMRC will only contact you via post. 4. Sign up for Action Fraud Alert, a free service provided by the National Fraud Intelligence Bureau. 5. Contact by somebody who is not on the Financial Conduct Authority (FCA) Register. 6. Be very cautious around any recommendation to take a large amount of money, or your whole pension pot, in a lump sum and invest it elsewhere. If in doubt with any communications seek professional nancial guidance to ensure you don’t lose out nancially. Speak to Michael @ Oyster Financial Planning for any support! 023 8084 8410. SPOTTING AN INVESTMENT SCAM HOW SCAMMERS ARE GETTING MORE CONVINCING by Michael Osman, Oyster Financial Planning Michael Osman, Oyster Financial Planning THE CLOCK IS TICKING All PSTN and ISDN networks will be closed by 2025, transitioning all UK businesses to all-VoIP networks to mitigate the rising costs of maintaining legacy equipment. According to managed services provider Espria, millions of UK businesses are expected to be impacted, especially those who still rely on fax machines and landlines. BT Openreach announced back in November 2017 its intention to switch o analogue and ISDN lines in 2025, a ecting PSTN-based services and some broadband services. BT Openreach’s logic was based on the fact that since ISDN’s (Integrated service digital network) rst iteration in the 1990’s, digital demands on networks for organisations and homes have changed dramatically, and the underlying technology needs to re ect and support modern requirements. A rapid audit of your network is recommended to understand how many connections you have, of what type and what they are being used for. Leaving it to the last minute could result in increased installation costs and delays. Depending on the nature of your organisation, these could be anything from simple voice lines to DSL broadband, building alarm circuits or even all external connectivity to the telephony system in use. ese include: • Analogue phone lines (including dial up devices, fax, modem, and PDQ machines) • ISDN (ISDN2 and ISND30) • Some broadband services (ADSL, Max, 2+ and FTTC circuits) Espria has recommended the following tips: • If you’re renewing contracts, look to move to a futureproofed solution • When you’re opening a new site location, consider IP based connectivity options • Assess your existing telephony options, if you’re using an on-site PBX with analogue or digital inbound/ outbound lines review the marketplace for suitable VoIP (Voice over Internet Protocol) options including IP telephony and Microso Teams.
RkJQdWJsaXNoZXIy MTIyNzI=