Profits
Profits reporting on Accountancy Today covers all developments, trends, and financial results that impact profitability across the UK accountancy sector. From quarterly and annual profit announcements by leading accountancy firms to analysis of partner remuneration, client billing strategies, and operational efficiencies, our editorial content delivers actionable insights for accountants, partners, directors, and firm owners. We also explore macroeconomic influences on firm performance, tax changes affecting take-home profit, and benchmarking across firm sizes — all with the needs of UK accounting professionals in mind.
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May- 2025 -22 MayNews-In-Brief
Today’s news in brief – 22/5/2025
Deloitte UK will reduce bonuses, promotions, and average pay rises for its consulting arm after a year of lower-than-expected profits, though slightly higher than the previous year. According to a staff memo, consulting underperformed significantly, prompting a 20% average bonus cut. Audit also missed targets, while tax, legal, and deals…
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22 MayBig Four
Deloitte to cut bonuses, promotions and pay rises amid ‘challenging year’
Deloitte has reportedly told its UK employees that it will promote fewer people, reduce the average pay rise and cut bonuses in its consulting arm, The Financial Times has reported. According to a memo sent to employees, and seen by the FT, it comes as full-year profits were “below our…
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15 MayEconomy
UK economy grows by more than expected 0.7% in Q1
The UK economy performed better than expected in the first quarter of the year, with GDP growing by 0.7% between January and March, following a 0.1% rise the prior quarter.This was ahead of analysts’ expectations, who had forecast a growth of 0.6% for the period. According to the Office for…
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Apr- 2025 -25 AprilCompanies
77% of accountancy firms optimistic about future, Xero finds
Some 77% of UK accounting practices are optimistic about their future outlook, new research from Xero has revealed. Xero’s 2025 Accounting and Bookkeeping Industry Report surveyed 250 UK accountants and bookkeepers to explore the key trends shaping the sector. Despite news last year showing the number of accounting firms has…
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16 AprilNews-In-Brief
Today’s news in brief – 16/4/2025
The Financial Reporting Council (FRC) has launched an investigation into EY’s audits of Post Office Limited for the years 2015 to 2018. The decision was made in March 2025 following the conclusion of the Post Office Horizon IT Inquiry public hearings. Although the Horizon scandal itself is not the subject…
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16 AprilAccounting Firms
Grant Thornton revenue and profits increase in FY24
Grant Thornton has seen its net revenue grow 11% to £724m as well as an operating profit growth of 0.4% to £147m during the 12 months to 31 December 2024. In the results, the firm also announced the completion of its landmark transaction with international private equity firm Cinven, having…
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14 AprilFeatures
What do accountancy firms stand to gain from IPOs?
MHA is the latest accountancy firm to announce plans to list on AIM, targeting a £269m share placing in its Initial Public Offering (IPO), which could happen as soon as this week. While MHA isn’t the first firm to take this step – and won’t be the last – the…
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3 AprilNews-In-Brief
Today’s news in brief – 3/4/2025
PwC has appointed Hugh Man as a corporate finance partner to strengthen its deals practice. Previously, he was managing director and head of EMEA Insurance at Jefferies International, advising on M&A, capital markets, and financing deals. With over 20 years of experience in insurance and financial services, Man will focus…
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Feb- 2025 -11 FebruaryAccounting Firms
Evelyn Partners Sustainable MPS team adds three new funds
The Evelyn Partners Sustainable Managed Portfolio Service (MPS) team has added three new funds to its portfolios in its latest rebalance: Vanguard UK Government Bond, iShares up to 10 Years Gilts Index, and M&G Global Sustain Paris Aligned. The latest rebalance saw trades across all asset classes as the team…
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Jan- 2025 -29 JanuaryBig Four
KPMG UK partners receive record payday as FY24 profits leap
KPMG UK’s partners saw their salaries jump by 9% to an average of £816k for the year to September 2024, as profits before tax rose 11% to £404m thanks to cost-cutting initiatives. However, total revenues grew slowly by 1% to £2.99bn that year. According to the Big Four firm, the…
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