Anchored to UK statute. Last verified 25 October 2026. View source-of-record.

maduediligencechecklist.com

The UK M&A Due Diligence Checklist

Decision aid

Big Four vs Tier-2 due diligence


Neither Big Four nor Tier-2 firms publish due diligence fees, so the premium can only be measured on your own competing quotes, compared hour by hour and grade by grade. The judgement is whether the buyer's IC, lender or LP will discount the deliverable if it does not carry a Big Four badge.

The honest take

Big Four scope is genuinely worth the premium on three profiles: multi-jurisdiction tax structuring across more than three tax-residence countries, FCA-authorised or regulated targets where supervisory-correspondence interpretation is on the critical path, and carve-out FDD where stand-alone-cost modelling demands operational-DD bench. Outside those, a Tier-2 report is often all the deal needs; put both proposals side by side on hours, grades and named team before deciding.


Side by side

Deloitte UK

Big Four

Big Four house with full Strategy and Transactions team. Anchors on £50m+ EV deals, regulated targets, cross-border and carve-out complexity.

Sectors: Financial services, TMT, Energy, Healthcare, Infrastructure

Pricing: Quote-only. No published rate card. Ask for hours by grade and the rate per grade so the quote can be compared with a Tier-2 proposal.

Adviser profile ->

Grant Thornton UK

Tier-2

UK Tier-2 firm whose transaction advisory services team carries out buy-side and sell-side financial and tax due diligence for private equity and corporate clients.

Sectors: Technology, Financial services, Consumer, Healthcare

Pricing: Quote-only. The firm publishes service descriptions, not fees or rate cards.

Adviser profile ->

Reviewed by Oliver Wakefield-Smith, Founder, Digital SignetLast verified 21 June 2026

This page is anchored to UK primary legislation and named regulator guidance only. Not legal advice. Confirm position with your appointed adviser before signing.