UK accountants could add GBP £463,000 from clients

Ravical has published research suggesting UK accounting firms could generate more than £463,000 in extra annual revenue from existing clients. The study focuses on small and medium-sized businesses in the UK.

The findings suggest many firms are missing sales opportunities not because clients are unwilling to spend more, but because accountants are not clearly explaining what else they can offer. Almost half of UK SMEs surveyed (47%) said they would pay up to 25% more for additional services from their current accountant.

The research puts average annual spending on accounting services across UK businesses at about £19,700. The largest concentration of clients sits in the £10,001 to £25,000 spending band, which the study identifies as the main area for incremental revenue growth.

That matters as parts of the accounting sector face weaker demand and staffing changes. Recent job cuts at Deloitte, KPMG and PwC have added to concerns about market conditions, even as firms look for ways to offset slower growth in some service lines.

Client demand

Ravical’s data points to a broad demand for a wider relationship with existing advisers. According to the company, 92% of businesses would be willing to pay more if their accounting firm offered the extra support they needed, while 94% would consider expanding the relationship with their current provider.

The issue appears to be communication and responsiveness rather than resistance to buying more. In figures published alongside the study, 38% of businesses said they would take up additional services from their accounting firm if it matched the speed and responsiveness of other providers.

That gap may be opening the door to alternatives. Seven in ten SMEs (70%) said they had acted on financial, tax, or business advice generated by an AI tool during the past year without first checking it with their accounting firm. A related version of the findings put the share at 71%.

The figures suggest businesses are not waiting for formal advice channels when they need answers quickly. Instead, some are using AI tools to fill gaps when they feel their accountant is too slow to respond or is not offering the guidance they want.

AI pressure

The study argues that automation is reshaping the balance of work in accountancy. As more compliance tasks become automated, firms may need to rely less on routine processing and more on advisory work to protect revenue and deepen client relationships.

For smaller businesses, that advisory work can extend beyond annual accounts or tax filings. The survey suggests clients increasingly want help with financial planning, tax questions, commercial decisions and broader business issues.

Joris Van Der Gucht, Co-founder and Chief Executive Officer of Ravical, said the market signals were stronger than some firms might assume.

“There’s a misconception that the market is shrinking. Our findings show 92% of businesses would be willing to pay more if their accounting firm offered the additional support they need,” said Van Der Gucht.

He said the opportunity for growth already exists within many firms’ current books of business.

“Accountants are sitting on a pool of opportunities to unlock commercial expansion, and those that strategically engage with existing clients will prevail,” Van Der Gucht said.

Growth route

The findings are likely to feed into a wider debate about how accounting firms should respond to AI and changing client expectations. For years, many practices have chased growth through client acquisition, but Ravical’s research suggests there may be more immediate gains in selling additional services to existing customers.

That route could also be less costly than winning new accounts in a competitive market. Existing clients already have an established level of trust, know the firm’s processes and may be more likely to buy adjacent services if they see clear value.

Still, the survey indicates that trust alone is not enough. If businesses are already acting on AI-generated financial or tax guidance without consulting their accountant, firms risk losing influence over decisions that once would have been more likely to come through a direct adviser relationship.

Van Der Gucht said AI should be seen as a tool that changes how firms work rather than as a simple substitute for accountants.

“Businesses aren’t necessarily looking to replace their accountant with AI, but they want more value from the one they already trust,” he said.

He added that the combination of existing client demand and workflow changes could alter how firms pursue growth.

“The fact that 94% of businesses would consider expanding their relationship shows the fastest route to growth is already on their books. With the support of AI, accounting firms can now streamline workflows and focus on delivering more tailored services to clients,” Van Der Gucht said.