There is another mushroom which is inedible but very similar called the Shaggy Scaly Cap (Pholiota squarrosa) shown below, this can be easily avoided as it has a ringless stem, yellow lighter, flesh colour and grows mainly on conifers.
|Shaggy Scaly Cap|
So to sum up:
Honey fungus: Orangey, darker colour, creamy white gills.
Shaggy Scaly Cap: Yellow, lighter colour, blue-grey gills.