Tax Consultants in the UK - Industry Research Report

Counting up: In 2023-24, revenue is forecast to rise as the industry regains clients lost amid the COVID-19 outbreak

Over the five years through 2023-24, tax consultant's revenue is expected to contract at a compound annual rate of 3.5% to £4.5 billion. Before the COVID-19 outbreak, operating conditions had been generally favourable, as a falling unemployment rate and a rising number of businesses have increased the potential client base for tax consultancies. The industry has a high level of market share concentration, with the four largest firms collectively accounting for 82.4% of industry revenue in 2023-24.

Firms in the Tax Consultants industry prepare personal and business income tax returns and offer tax advisory services and non-legal representation before tax authorities. However, industry services exclude management consultancy on accounting systems, the provision of budgetary control procedures and bill collection.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.