Deloitte's revenues grew by 15.6% in 2006-7, to just over £1.8bn.

The firm announced profits for the year of £572m today, an increase of 17% on the previous year.

The numbers were driven by a huge growth in tax revenues, up by 19.2%.

The surge saw chief executive John Connolly's pay soar to £4.6m, a 12% rise. Average profit per partner at the firm is now £877,000.

Connolly said: 'A changing tax environment with increasing focus by tax authorities and tax payers on the accuracy, efficiency and timeliness of tax reporting saw exceptional growth in our tax management consulting service line and the recent actions by the UK government to address UK business tax competitiveness is driving significant activity amongst our international clients focusing on the tax efficacy of their global operations. Our specialist teams advising private equity, infrastructure and real estate clients benefited from their exceptional reputation in a very active segment.'

Other business lines saw strong growth too, with audit and corporate finance both up by around 15% and the consulting arm growing by 12.9%.