UK accountants expect to receive an average bonus of 18.1% this Christmas, the highest level in percentage terms for three years, according to recruiter Marks Sattin.

In cash terms, the average bonus likely to be paid this year is £11,587, an increase of £575 compared with last year. It is also bigger than the average payout in 2010, when bonuses hit 19%, because of the rise in base salaries.

Marks Sattin estimates the total bonus pot will be around £3.4bn in 2013/14, compared with £3.1bn last year. The recruiter says this is a result of high confidence levels evident in the profession.

Dave Way, managing director of Marks Sattin, said: 'Last year, accountants' bonuses exceeded their own expectations, and this year they've revised them up accordingly. It's been a strong year for the sector, with the recovery taking hold and economic activity on the rise so confidence is high. A strong bonus season will really cement the feeling that we've turned a corner.

Separate research by Marks Sattin suggests the importance of financial incentives for accountants has grown in the past year, with 30% now saying this was a key reason for leaving their last role compared with 28% last year. It is now the second most important reason for changing jobs, ahead of 'seeking a new challenge' which is cited by 29% of professionals. The most common reason for leaving, however, is still career development (33%).

Way said: 'Remuneration is growing in importance for accounting professionals and managers should be aware of this when it comes to bonus season. However, the itch of a stagnant career is something no amount of money will scratch, so equally important is a focus on talent management and career progression.'