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Professional accountants serving the UK and helping small businesses to grow!

Whether you are an expanding company or just starting up, KAMP Accountants is here to help.

With extensive experience working with large and small clients throughout the UK, we support large and small business in a broad range of business sectors with all their accountancy requirements.

Taxman collects more than £400m in interest charges

Newsletter issue – March 2025

The amount the tax man collects from interest charges has grabbed some media attention in recent weeks, as new data was published.

Following a Freedom of Information request, it was revealed that HMRC received more than £400m purely from interest charges in the last calendar year (January to December 2024).

This figure includes money that has come from taxpayers, trusts and estates that missed payment deadlines.

Incredibly, the figure has risen to three times greater than it was in 2021 - when revenue stood at £131.9m. For 2022, the figure was £200m, followed by £328m in 2023.

The late payment interest rate rose significantly over the three year period that the figures covered, going from 2.6% in December 2021 to 7.75% (the peak) in August 2024. It's supposed to fall again in the coming weeks to 7%.

Analysts said that, aside from the increasing interest rate, another reason for the amount collected rising was due to higher numbers of self-employed people paying self-assessment tax returns in 2024.

Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.

  • Accounts and Taxation
  • Accounts prepared on time and presented to you at your premises
  • Income tax calculations and projections
  • Annual superannuation certificates for Partners
  • Practice manager training about bookkeeping
  • 2 - 4 meetings in a year at your premises
  • Personal expenses
  • Payroll
  • SD55 for practice staff
  • Installation and training in respect of practice computerised accounting system
  • Unlimited telephone and email support for adhoc queries

Non - recurrent Services

•VAT advice •Capital gains tax planning •Partnership agreements •Surgeries finances •Pension planning •Budget and cashflow planning •Inheritance Tax planning

Recurrent Annual Services based on fixed fee:

  • Accounts and Taxation
  • Accounts prepared on time and presented to you at your premises
  • Income tax calculations for Principles and Associates
  • Practice manager training about bookkeeping
  • 2-4 meetings in a year at your premises
  • Personal expenses
  • Payroll
  • SD55 for practice staff
  • Installation and training in respect of practice computerised accounting system
  • Unlimited telephone and email support for adhoc queries

Non - recurrent Services

  • VAT advice
  • Capital gains tax planning
  • Partnership agreements
  • Surgeries finances
  • Pension planning
  • Budget and cashflow planning
  • Inheritance Tax planning

Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.

Medical Practices

Our specialist team provides a wide range of accounting and business services to General Practice.

Recurrent Annual Services based on fixed fee:

Dental Surgeries

Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.

Recurrent Annual Services based on fixed fee: