Accounting Firms

UK accounting turnover climbs 14.9% to £3.1bn, ONS reveals

The data also revealed that the accounting industry growth was ahead of the overall UK services sector (including accounting) which grew by 9.2% month-on-month to £197.3bn

The UK accounting industry turnover for June 2021 increased 14.9% to £3.1bn from £2.5bn in 2020 and was the second highest month on record according to the Office of National Statistics.

The data also revealed that the accounting industry growth was ahead of the overall UK services sector (including accounting) which grew by 9.2% month-on-month to £197.3bn.

Julie Matheson, regulatory partner, accounting services at Kingsley Napley said: “After a quieter period in April and May, this is good evidence that UK accounting firms are continuing on a growth trajectory towards the record high in March this year.

“The sector has risen to the challenge of the new normal, and is now regularly surpassing pre-pandemic levels. Partners leading firms are likely looking forward to a period of sustained growth in coming months.”

She added: “We should all however remain aware of the risks in the market, to our staff, to our clients, and to our communities.”

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