Tax Services Stocks Retail Investors Are Watching As Enforcement Questions Grow

The Todd Blanche Attorney General nomination fight has pushed tax enforcement and legal risk into the spotlight, and that can matter for your portfolio. Political questions around the Trump IRS settlement, audit immunity and the handling of a US$1.8b compensation fund are feeding fresh uncertainty into how tax and legal rules are applied. That uncertainty may create both perceived opportunity and added risk for companies that help clients manage tax and legal exposure. This article looks at 3 stocks from our Tax and Legal Services Providers screener that appear most exposed to these developments.

Mha (AIM:MHA)

Overview: Mha is a UK based professional services group that provides enterprises and individuals with audit, tax, VAT, accountancy, corporate finance, restructuring, counter fraud and outsourced cloud accounting services. Rooted in a practice founded in 1869 and now operating as Mha Plc from Milton Keynes, it focuses on helping clients manage financial reporting, business strategy and regulatory risk.

Operations: Mha generates all of its £251.36 million in revenue from the provision of professional services, with £224.87 million coming from the United Kingdom and the balance primarily from Ireland, mainland Europe and the Cayman Islands.

Market Cap: £340.56 million

Mha sits at the crossroads of tax, accounting and risk advice at a time when scrutiny on enforcement and compliance is intensifying, which may encourage more clients to seek its help. The company combines revenue of £251.36 million with earnings that analysts expect to grow at mid single digit rates and a P/E that is below both industry and peer averages, which points to a potentially interesting valuation. The catch is execution risk, with a relatively new management team and a sharp recent decline in net income and margins. For investors, the key question is whether that earnings setback is temporary or a sign that the business model is under more pressure than the share price implies.

Mha’s earnings setback and below peer P/E could be masking a more complex story. See how the 4 key rewards and 1 important warning sign might reframe the balance between its recent margin pressure and its longer-term prospects.

Public Policy Holding Company (AIM:PPHC)

Overview: Public Policy Holding Company provides government relations, public affairs, corporate communications, and compliance services, helping clients understand and respond to policy, regulatory and reputational issues across U.S. federal and state levels and select international markets.

Operations: Public Policy Holding Company generates most of its revenue from Government Relations Consulting at US$110.69 million, alongside US$73.33 million from Corporate Communications & Public Affairs Consulting and US$13.33 million from Compliance and Insights Services, with US$187.30 million earned in the United States and US$10.06 million from international clients.

Market Cap: £219.05 million

Public Policy Holding Company sits close to the action whenever tax, enforcement and reputational questions flare up in Washington, which is particularly relevant while the Todd Blanche Attorney General nomination and Trump IRS settlement are under political fire. The business leans on a high share of retainer revenue, cash generative operations and a capital light model. Analysts expect it to move from losses to profitability over the next few years. At the same time, you need to weigh ongoing losses, index removals, insider selling and the risk that higher public company and technology costs eat into future margins. The key question is whether the current share price already reflects those concerns or underestimates what a more policy driven world could mean for PPHC.

Public Policy Holding Company sits at the intersection of policy risk, reputational pressure and client demand, where these forces can decouple from the market view. To see how that balance of opportunity and concern stacks up, start with the 2 key rewards and 3 important warning signs

Resources Connection (RGP)

Overview: Resources Connection is a Dallas based consulting company that helps corporates tackle complex projects using a mix of on demand experts, consulting teams and outsourced services across finance, risk, compliance, technology and crisis communications.

Operations: Resources Connection generates most of its revenue from On-demand Talent at US$168.80 million and Consulting at US$159.80 million, alongside US$39.21 million from Outsourced Services and US$9.07 million from other activities.

Market Cap: US$136.40 million

Resources Connection gives you exposure to clients wrestling with tax, regulatory and legal exposure at a time when enforcement questions around the Todd Blanche Attorney General nomination and the Trump IRS settlement are front of mind. The stock trades on a low P/S ratio relative to peers, yet the business still pays a high dividend yield and has a long history in complex advisory work, including crisis communications. The catch is that RGP is loss making, carries higher risk funding, has seen revenue under pressure and was removed from key Russell indices in June 2026. The key consideration for investors is whether the company’s shift toward higher value digital and risk consulting can offset those pressures and support a lasting earnings reset.

Resources Connection’s low P/S and high dividend suggest the market may be missing something. Get the full picture through the analysis report for Resources Connection that explains how its digital and risk consulting pivot could change the story.

The three stocks covered here are only a starting point, with the full Tax Services and Legal Services Providers screener surfacing 17 more companies in tax, accounting and legal services that carry equally interesting stories around enforcement, compliance and financial strength. Use Simply Wall St to identify and analyze the specific catalysts, risk factors and narratives that matter most to you, so you can focus on the highest conviction ideas in this space.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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