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