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HMRC is actively identifying suspicious claims, and people are being caught and are facing fines and penalties as a result of this fraudulent activity. In total, HMRC handed out £153 million in fines across 46,000 penalties for businesses in 2023. There has been a 38% increase in the serious penalties for what it terms “deliberate” errors. Last year, about 1.8 million taxpayers turned to overdrafts to pay unexpected self-assessment tax bills, according to research by Royal London.