Accountant numbers increase in the UK

Date: 5th August 2008

Small businesses requiring accountants to assist in tax issues have a wider choice than ever before, a new report has suggested.

The latest Key Facts and Trends in the Accountancy Profession report from the Financial Reporting Council (FRC) suggested that there are now 277,761 accountants that are members of the six chartered bodies.

In the last five years, the number of accountants who could help small businesses has increased by 2.5 per cent, the report added.

Interestingly, the report showed that 40 per cent of accountants in the UK are members of the Institute of Chartered Accountants in England and Wales.

"Once again this report illustrates the strength of the UK accounting profession and its continued growth, reflecting the attractiveness of the profession to new recruits," commented Paul George, director of the oversight board of the FRC.

Recently, website allmediascotland.com suggested that it was important that start-up small businesses thought about their tax liability as early as possible and considered hiring an accountant to help them.