Our website uses cookies to enhance the visitor experience (what's a cookieCookies are small text files that are stored on your computer when you visit a website. They are mainly used as a way of improving the website functionalities or to provide more advanced statistical data.). Are you happy for us to use cookies during your visits?
Please note: continuing without making a choice equates to giving us your consent, which you can withdraw at any time via our cookies policy page.

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.

Tax commitment finally set to change after 25 years

Newsletter issue – April 2025

A 25-year UK tax commitment related to Income Tax is set to be axed from next month.

As the new tax year begins on 6 April 2025, rules on The Official Rate of Interest (ORI) are finally set to change. In January 2000 it was decided to not increase the rate during the tax year, and it has remained that way ever since.

HMRC is now highlighting the change through communications with businesses as we get near to the new tax year. The ORI is used to work out the Income Tax charge on the benefit of employment-related loans. It also applies to the taxable benefit of some employment-related living accommodation.

In terms of how it affects employers, HMRC officials stated the following: 'If you provide employment-related loans or living accommodation to your employees, you will need to remain aware of any future changes in the rate. As of 6 April 2025, the rate may increase in-year which will impact the taxable value of the benefits you provide.'

This change was originally announced in the Budget in October 2024. The Budget papers stated: 'The previous public commitment, made by the Inland Revenue in January 2000, that the rate will not increase in-year will no longer be applicable. As of 6 April 2025, the official rate of interest may increase, decrease, or be maintained throughout the year.

'This measure will enable the official rate of interest to increase in-year where appropriate, ensuring employment-related beneficial loans and living accommodation are correctly valued.'

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: