The development of high-resolution magnetic resonance imaging (MRI) has resulted in the ability to clearly depict the finer details of rectal wall anatomy. Careful specialist assessment of images obtained in patients with significant polyps and early rectal cancer lesions enables the identification of lesions that are confined to the bowel wall and amenable to organ preserving local excision. Currently, one-third of screen detected rectal cancers are limited to the bowel wall without nodal spread yet more than 90% undergo major excision surgery resulting in significant loss of bowel function, quality of life and at high economic cost. The SPECC initiative has highlighted the need for specialist training and accreditation of radiology specialists in precision assessment of significant polyps and early rectal cancer. The detailed assessment will enable provision of detailed roadmaps for surgeons and gastroenterologists to facilitate definitive excision of more lesions using minimally invasive endoscopic technique. Finally, the use of high resolution MRI in surveillance will enable the close monitoring of such patients where the preservation of the rectum has been achieved.