In a record year for firms as fee income surges towards £15bn, profitability is being squeezed and smaller firms are at risk. Philip Smith analyses the latest financial results, profitability, growth areas and considers the key trends to watch

Despite the uncertainty pervading the UK economy, the accountancy sector has delivered another year of growth. But behind the top line numbers lies a nagging worry that profits are under pressure even as the firms continue to cash in on demand for accounting, tax and consulting services.

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