This is the first change in fees for six years and will see substantial increases for firms, including accountants and law firms, with the premises fee shooting up. But there is not much notice as the new fees come into effect from 1 December, just a few weeks away.

AML supervision fees are rising across the board, HMRC said, stressing that prices had not increased since 2019 and need to take into account inflation and additional supervisory costs.

The big rise affecting all accountancy firms will be the 33% rise in the annual premises fee.