January 1st, 2016
Tolley's Tax & Accountancy Market Review 2015
The regulatory burden and the need to keep up to date with the ever changing face of the UK tax system are key concerns for tax advisors. The economic recovery has alleviated many of the concerns from two years ago but in place of those financial woes are concerns about having the right staff with the right skills. This, in part, appears to have been born out of the need for practices to diversify in order to come out of the recession in good stead. The volume of work being referred on has dramatically increased from 2013, and this is likely to be a result of diversification of services combined with issues of having the right staff with the right skills and knowledge. Technology is a key driver for development within the profession and all levels of seniority and experience seem to be united in the belief that now, and for the foreseeable future, it is key for their firms to embrace new technologies and work procedures to maintain their place in the market.
Tolley recently sent a survey out to a selection of its clients in both private practice and commerce and industry. The following report details some of the findings and highlights common trends within the profession. The report also draws comparisons from a similar survey that was undertaken in 2013.