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Accounting industry revenues reached £4.34bn in March, spelling an increase of 9.5% compared to the £3.96bn recorded in February, according to the latest Office for National Statistics (ONS) data.
The figures represent the highest monthly revenue ever recorded for the sector. The total is 4.7% higher than March 2025, which was the last time monthly turnover exceeded the £4bn mark.
Current revenues are 14% higher than the 2025 monthly average of £3.8bn. By comparison, the overall services sector grew by 0.3% in March, while the wider economy saw GDP growth of 0.3%.
The growth comes despite the outbreak of the Iran war on 28 February, which analysts suggest has begun to impact broader economic stability and fuel costs.
Julie Matheson, accounting industry regulatory partner at Kingsley Napley, said: “March revenues for the accounting sector are a new sector high. But we should bear in mind that March is always a healthy month for revenues.
“Today’s figures no doubt reflect a rush of pre-financial year end activity and also perhaps the fact that some client activity was reportedly brought forward before the longer-term effects of the Iran war are felt.”
She added: “The question is whether this is sustainable. Firm leaders will have to navigate the choppy economic waters on the horizon for the rest of H1 – rising fuel costs hitting businesses, increased hiring costs as well as the impact of UK political turbulence on our economy – so a summer of lacklustre economic growth is predicted from which the accounting sector is unlikely to be immune.”
