Industry Analysis & Industry Trends
The Tax Consultants industry is expected to record modest revenue growth during the five years through 2014-15, expanding at an estimated compound annual rate of 2.3% to reach £3.8 billion. This indicates that the industry was not as affected by the financial crisis and the bleak economic conditions that followed compared with other sectors. This is mainly due to relatively stable demand for personal and business income tax services, as businesses and individuals have to file tax returns irrespective of economic conditions. However, revenue generated from tax advisory services remained volatile as performance in this segment is closely linked to the state of the economy... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Tax Consultants industry is in the mature phase of its life cycle. Industry value added, measuring the industry's contribution to the overall economy, is anticipated to grow at a compound annual rate of 2.7% over the 10 years through 2019-20, a slightly faster rate than the overall UK economy. Over the same period real GDP is expected to grow at a compound annual rate of 2.1%.
Tax consultants' services and markets have become well established, leaving little scope for significant growth driven by the introduction of new services or the emergence of new markets. The wholehearted acceptance of the services provided by industry participants is also characteristic of a mature industry... purchase to read more