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Tax Consultants in the UK: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Tax Consultants Market Research Report | SIC M69.203 | Nov 2016

Cut rate: Revenue is expected to fall in the current year, due to low business confidence

IBISWorld’s Tax Consultants market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Market Share of Companies
Deloitte LLP Deloitte LLP market share
Ernst & Young LLP Ernst & Young LLP market share
KPMG LLP KPMG LLP market share
PricewaterhouseCoopers LLP PricewaterhouseCoopers LLP market share
Industry Statistics & Market Size
Annual Growth 12-17
Annual Growth 17-22
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Industry Threats & Opportunities
  • Revenue is expected to fall in the current year, after a period of sustained growth
  • Digital technology has become increasingly important in the industry over the past five years
  • Recent audit reforms are expected to encourage a greater degree of competition in the industry
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Industry Analysis & Industry Trends

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. The industry is expected to record steady revenue growth during the five years through 2016-17, expanding at an estimated compound annual rate of 2.2% to reach £3.9 billion. Generally favourable economic conditions have supported an increase in the number of businesses in the United Kingdom, as well as an overall rise in business capital expenditure, bolstering revenue.

In 2016-17, revenue is forecast to decline by 0.2% as the economic uncertainty arising due to the UK electorate's decision to leave the European Union is expected to negatively affect business confidence... purchase to read more

Industry Report - Starting a New Business Chapter

From a practical standpoint, barriers to entry in the Tax Consultants industry are relatively low. In particular, barriers to entry into the personal and small-business tax services markets are low. Many operators in this segment are small partnerships, exemplified by the fact that 80% of firms employ under five staff. This illustrates that scale is not a prerequisite to competing effectively. The majority of firms in the industry operate as small, local providers of tax services catering to the needs of private consumers. This, in conjunction with the industry's low capital-investment requirements, keeps start-up costs low for firms entering the personal and small-business areas of tax consulting.

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Additional Insights for the Tax Consultants Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Tax Consultants Industry are

  • Access to highly skilled workforce
  • Having a good reputation
  • Having a loyal customer base
  • IBISWorld analysts also discuss how external factors such as Number of businesses and Business capital expenditure in the Tax Consultants industry impact industry performance... purchase to read more


    Industry ProductsRelated Reports

    What is the Tax Consultants Industry?

    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 operators are not responsible for offering comprehensive management consultancy services like accounting services or the provision of budgetary control procedures.

    Industry Products
    Personal income tax servicesBusiness income tax servicesTax advisory services
    Industry Activities
    Providing personal income tax returnsProviding business income tax returnsOffering taxation advisory services

    Table of Contents
    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Number of businesses
  • Business capital expenditure
  • FTSE 100
  • National unemployment rate
  • Current Performance
  • Taxing regulatory environment
  • Improving technology
  • Profitability
  • Chart: Revenue Growth
  • Industry Outlook
  • Growth in businesses
  • Audit reforms
  • Accounting for the referendum
  • Table: Tax Consultants Industry Revenue Outlook
  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Tax Consultants Industry Lifecycle vs The Economy
  • Products & Markets
    Supply Chains
  • Key Buying Industries
  • Banks
  • Financial Management
  • Key Selling Industries
  • Legal Activities
  • Office Equipment Rental & Leasing
  • Software Publishing
  • Universities
  • Products & Services
  • Business income tax services
  • Tax advisory services
  • Personal income tax services
  • Chart: Tax Consultants Industry Products and Services Segmentation
  • Demand Determinants
    Major Markets
  • Financial services sector
  • Private consumers
  • Other industries
  • Industrial sector
  • IT, communications
  • Retail and consumer services sector
  • Government institutions
  • Entertainment sector
  • Chart: Major Market Segmentation for the Tax Consultants Industry
  • International Trade
    Business Locations
  • Chart: Business Locations by State
  • Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Subcontracted labour
  • Legal advice
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Tax Consultants
  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Tax Consultants Industry
  • Industry Globalization
    Major Companies
    PricewaterhouseCoopers LLP
    Deloitte LLP
    Ernst & Young LLP
  • Table: PricewaterhouseCoopers LLP - financial performance
  • Table: Deloitte LLP - financial performance
  • Table: Ernst & Young LLP - financial performance
  • Table: KPMG LLP - financial performance
  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Tax Consultants Industry
  • Chart: Tools of the Trade: Growth Strategies for Success
  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth
  • Regulation & Policy
    Industry Assistance
    Key Statistics
  • Table: Industry Data for the Tax Consultants Industry
  • Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Table: Annual Percentage Change for Key Industry Data
  • Table: Key Ratios for Industry Key Data
  • Jargon & Glossary
    General Anti-Abuse Rule (Gaar)
  • The General Anti-Abuse Rule negates the need for new legislation to prohibit aggressive tax avoidance. It covers all avoidance schemes considered abusive.
  • Outsourcing
  • The use of outside service providers to perform non-core business functions.
  • Tax Return
  • A document that must be filed with HM Revenue & Customs declaring liability for taxation.

  • Why Buy this Report?
    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Tax Consultants:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Tax Consultants market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Tax Consultants, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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