Industry Analysis & Industry Trends
During the five years through 2012-13, the industry has generally recorded weak revenue growth as the financial crisis and subsequent recession have weighed on business demand for tax advisory services. However, the industry's relatively stable revenue base – regardless of economic conditions, businesses and consumers are required to file tax returns – meant that revenue contracted by only a small amount in 2009-10, before returning to moderate growth in 2010-11 and 2011-12. During 2012-13, the Tax Consultants industry is expected to record growth of 2.3%, with firms suffering as companies continue to shun transactions, mergers and acquisitions (M&As) and initial public offerings (IPOs) in the troubled economic climate. Industry revenue is forecast to grow by 1.3%.. purchase to read more
Industry Report - Industry Key Buyers Chapter
The Tax Consultants industry has a medium level of concentration, with the four largest firms - PricewaterhouseCoopers, Deloitte, KPMG and Ernst & Young - together accounting for about half of industry revenue. The Big Four are dominant in providing tax advisory services to large clients, particularly publicly listed companies. While the top four firms hold strong market share and dominate the tax advisory segment, there are a large number of small firms that provide tax return preparation services to many consumers and small businesses in the United Kingdom... purchase to read more