- 70% of UK small businesses turn to AI for financial advice before their accountants
- Most business leaders are dissatisfied with current accounting services.
- Clients want more personalized and proactive advice
Nearly three-quarters (70%) of UK SMEs say they often or always turn to AI-generated financial, tax or business advice before consulting their accountant, according to a new report of 500 UK SMEs commissioned by Ravical.
In contrast, only 5% rarely or never do this, highlighting how widespread AI adoption is when it comes to seeking advice.
Answering tax questions, answering financial planning queries, offering business strategies, and sorting out day-to-day accounting problems are among the most common use cases; instead, accountants are used to validate AI-generated advice as a secondary layer.
SMEs prefer to ask AI rather than an accountant
In terms of the role of a human accountant, only a third of UK SMEs described their accountant as a true working partner who proactively contributes ideas and offers strategic insights, which could explain why business leaders have turned to artificial intelligence: personalization as well as efficiency.
Clearly, leaders are not happy with their current accountants, because 91% have considered switching over the past year out of a desire for more advice, faster responses, forward planning and proactivity.
Cost isn’t actually a big issue: 92% said they would be willing to pay higher fees if accountants actually provided the quality of services they wanted.
While the report confirms that many are turning to AI in the first instance, it also offers insight into why human accountants could be losing business, and clients are still happy to spend money with them.
In reality, leaders are not looking for compliance as much as they are looking for forward-looking advice and proactive identification of opportunities.
“You become the second opinion and you have to be better and faster than the tool the customer already uses,” said CEO Joris Van Der Gucht.
Accountants’ expectations are evolving as AI automates compliance
But it’s not just business leaders who should turn to AI to increase efficiency. Xero research revealed that UK accountants who use AI at work get results 31% faster.
The Institute of Chartered Accountants in England and Wales (ICAEW) also found that 85% of accountants are keen to use AI, and four in five (79%) see their roles evolving towards “data gatekeepers” – checking AI-generated results and extending them with more personalized context. Ravical found that critical compliance work is already being automated through AI and that the role of an accountant is evolving.
90% of SMEs believe compliance work could be largely handled by AI in the coming years, but 35% already think so today.
The role of AI in an accountant’s office is to eliminate administrative and low-value work, allowing them to focus on judgment, strategy and advice.
The ICAEW report, published in April 2025, also recognizes the need for broader business advice and client relationships. It also addresses the continued role of humans in the profession, specifically that human judgment remains crucial. While SMEs are clearly happy to look to AI for advice in the first instance, trained professionals are clearly valued when the stakes are higher.
Rather than completely replacing human accountants, AI is redefining what business leaders expect from their accountants. With routine compliance now considered automated or near-automated and many companies turning to AI for basic guidance, it could be good news for accountants.
Those who succeed will likely be the ones who convert this time into higher-value, higher-quality advice and relationships with their clients.
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