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UK corporates are increasingly choosing the Big Four for certain types of legal work relating to tax and corporate finance functions according to latest research from Thomas Reuters.
While the use of ALSPs has grown over the past year in the UK legal market, much of that growth has come from the Big Four accounting and consulting firms.
Thomson Reuters said that accountancy firms are benefiting from the anticipated increase in legal spend among UK corporates,.
Its report notes UK legal clients are also increasingly going to the Big Four for specialised legal work, a trend which has been growing significantly since 2015.
It also noted that there also has been a “significant increase” in usage among non-legal firms outside of the Big Four, such as contract attorney firms.
Lucinda Case, head of legal professionals Europe for Thomson Reuters, said: “As we go into a period of economic uncertainty, with rising interest rates and inflation, UK corporate demand for legal services remains robust.
“What’s unusual about this year’s data is that such a large number of UK corporates are planning to increase both their spending on international legal work as well as their spend on UK legal work.”
